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NISM Certifications · NISM-Series-VI: Depository Operations · Investor Services (NISM VI)

Mr. Iyer, a BO, complains that his DP has not acted on a delivery instruction slip (DIS) he submitted. He first approaches the DP, which does not resolve the matter satisfactorily. What is the most appropriate next step in the grievance redressal route for the investor?

The investor should escalate to the depository, which can take up the matter with the DP, and may also lodge the complaint on SEBI's SCORES platform. The issuer company has no role in a DP's failure, and closing the account is unnecessary.

  1. AApproach the stock exchange's listed company directly for the DP's action
  2. BFile a complaint with the depository, which can take up the matter with the DP, and also use the SEBI SCORES platformCorrect
  3. CWait for three years before taking any action
  4. DClose the demat account immediately and forfeit the securities

Explanation

If the DP does not resolve a complaint, the BO can approach the depository and lodge a complaint on SEBI's SCORES platform. The issuer has no role in a DP's failure to process a DIS. Waiting years or closing the account is neither required nor sensible.

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