As an on-going measure to enhance the ease of doing business for investors in the securities market, SEBI, vide Circular Nos. SEBI/HO/MIRSD/MIRSD_RTAMB/P/ CIR/2021/655 dated November 03, 2021, SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2021/687 dated December 14, 2021 & SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/37 dated March 16, 2023 had prescribed the common and simplified norms for processing investor’s service request by RTAs and norms for furnishing PAN, KYC details and Nomination.
It shall be mandatory for all holders of physical securities to furnish PAN, Nomination, Contact details, Bank A/c details and Specimen signature for their corresponding folio numbers.
The folios wherein any one of the cited document/details are not available on or after October 01, 2023, shall be frozen by the RTA in terms of the captioned SEBI Circular.
The security holder(s) whose folio(s) have been frozen shall be eligible:
- to lodge grievance or avail any service request from the RTA only after furnishing the complete documents / details as mentioned in SEBI Circular.
- for any payment including dividend, interest or redemption payment in respect of such frozen folios, only through electronic mode with effect from April 01, 2024.
Frozen folios shall be referred by the RTA / Company to the administering authority under the Benami Transactions (Prohibitions) Act, 1988 and/or Prevention of Money Laundering Act, 2002, if they continue to remain frozen as on December 31, 2025.
The RTA shall revert the frozen folios to normal status upon receipt of all the documents/details as mentioned in SEBI Circular.
Forms for availing various Investor services:
|Request for registering Pan, KYC details or changes / updation thereof
|ISR - 1
|Confirmation of Signature of securities holder by the Banker
|ISR - 2
|Declaration Form for Opting-out of Nomination
|ISR - 3
|Request for issue of Duplicate Certificate and other Service Requests
|ISR - 4
|SH - 13
|Cancellation or Variation of Nomination
|SH - 14
Online Dispute Resolution (ODR) Mechanism
SEBI vide its below mentioned circular(s) has established a common Online Dispute Resolution (ODR Portal) Mechanism which undertake a time bound online conciliation and/or online arbitration for resolution of disputes arising in the Securities Market.
- ODR Master Circular - Updated as on December 28, 2023
- ODR Circular - December 20, 2023
- ODR Circular - August 04, 2023
- ODR Circular - July 31, 2023
The ODR Portal allows investors with additional mechanism to resolve the grievances in the following manner:
An investor shall first take up his/her/their grievance with the Company/ RTA by sending an email to the RTA at email id: email@example.com and/or to the Company at firstname.lastname@example.org or by sending his/her/their correspondence at bellow address:
Skyline Financial Services Private LimitedAddress:D-153 (A) 1st Floor,
Okhla Industrial Area Phase - 1
New Delhi - 110020
TARC LimitedAddress:C-3, Qutab Institutional Area,
Katwaria Sarai, New Delhi - 110016
If the grievance is not redressed satisfactorily, the investor may, in accordance with the SCORES guidelines, escalate the same through the SCORES Portal which can be accessed at https://www.scores.gov.in in accordance with the process laid out therein.
After exhausting these options for resolution of the grievance, if the investor is still not satisfied with the outcome, he/she/they can initiate dispute resolution through the ODR Portal.
Alternatively, the investor can initiate dispute resolution through the ODR Portal if the grievance lodged with the Company/ RTA was not satisfactorily resolved or at any stage of the subsequent escalations mentioned above (prior to or at the end of such escalation/s).
It may be noted that the dispute resolution through the ODR Portal can be initiated when the complaint/dispute is not under consideration in terms of the above or SCOREs guidelines as applicable or not pending before any arbitral process, court, tribunal or consumer forum or are non-arbitrable in terms of Indian law or is against the Government of India / President of India or a State Government / Governor of a State.
Investors must refer the modalities and operational guidelines of the ODR Portal including timelines for review/resolution of complaints filed through the Portal, manner of proceedings to be conducted by the ODR institutions, role and responsibilities of Market Infrastructure Intermediaries, code of conduct for Conciliators and Arbitrators etc. as provided in above mentioned SEBI Circulars.
Dispute Resolution Mechanism at Stock Exchanges against Listed Companies / Registrar to an Issue and Share Transfer Agents (RTAs)
If you have any dispute against a listed company and or its Registrar and Share Transfer Agent (RTA) on delay or default in processing your request, as per SEBI Circular dated 30.05.2022, you can file for arbitration with Stock Exchange.
For more details, please see the web links of the stock exchanges –
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