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NISM Certifications · NISM-Series-X-A: Investment Adviser (Level 1) · Grievance Redress Mechanism

Mr. Rakesh Nair, a client of an investment adviser, is dissatisfied with the adviser's response to his written complaint. Which step is the logical escalation route after the adviser's internal grievance process fails to resolve the matter?

The client should lodge the complaint on SCORES and, if still dissatisfied, escalate to the SEBI online dispute resolution mechanism. This is the prescribed escalation path after internal grievance handling. Jumping directly to the Supreme Court or doing nothing is not the structured remedy.

  1. AFile a complaint on SCORES and, if still unresolved, use the online dispute resolution mechanismCorrect
  2. BDirectly approach the Supreme Court without any other step
  3. CWait indefinitely since no further remedy exists
  4. DAsk the adviser's competitor to settle the matter

Explanation

After the intermediary's own grievance handling, the investor may lodge the complaint on SCORES and, if not satisfied, can proceed to the SEBI online dispute resolution (ODR) mechanism of arbitration or conciliation. Going straight to the Supreme Court skips the prescribed route, and the other options are not remedies.

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