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

Ms. Meera Iyer finds that a debit of 500 shares appears in her demat account for an instruction she never issued. What should be the DP's first appropriate step in handling her complaint?

The DP should register the complaint, verify the disputed debit against the delivery instruction and signature records, and reply within the prescribed time, also telling the investor she can escalate to the depository or SEBI's SCORES platform if unresolved.

  1. ATell her to approach the stock exchange only, since DPs do not handle such matters
  2. BRecord the complaint, investigate the instruction using the DIS and records, and respond within the prescribed time, while informing her of escalation routes such as the depository and SCORESCorrect
  3. CAsk her to close the account and open a new one
  4. DIgnore the complaint until she submits a notarised affidavit

Explanation

A DP must register the grievance, verify the instruction against the DIS and signature, and resolve it within the prescribed time. If unresolved, the investor can escalate to the depository or lodge it on SEBI's SCORES platform. The other options avoid the DP's duty.

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