Investor Grievances




 

OTCEI in 1993, became the first Exchange in the country to open Investor Grievance Cells (IGCs) at four Metros - Chennai, Delhi, Kolkata and Mumbai. The IGCs handle complaints/ queries from investors against brokers and/or companies listed on the OTCEI.



0Common Grievances

    Investor grievances can be largely classified as:

    0Company-related

      Non-receipt of securities sent for transfer

      Non-receipt of corporate benefits, e.g.dividends/interest/bonus/rights,etc.

      Non-receipt of share certificates in exchange for counter receipts

    0Broker- related

      Non-rectification of documents returned as bad delivery by the broker

      Non-receipt of funds/ securities on sale/ purchase



0Procedure for grievance redressal

    OTCEI tries to resolve complaints received from investors at the earliest. We have devised a format for lodging complaints in order to get the required details from the investor.

    Complaint given a unique reference number, investor is sent an acknowledgment

    Complaint forwarded to Company/Registrar/Broker, who are asked to reply within 21 days

    If complaint unresolved within 30 days from date of acknowledgment, investor may again approach OTCEI with reference number.



0Investor Compensation Fund

    OTCEI set up the Investor Compensation Fund in 1995 to address and compensate the claims of investors and protect them in case of default or loss of security. The Investor Compensation Committee of OTCEI decides on the claims filed by the investors.



0Investor Claims

    Claims can be lodged by any class of investors for any pecuniary loss suffered on account of default or non-performance by any constituent of OTCEI.



0Notification of Claims

    OTCEI must be notified of any claim substantiated with evidence within one month from the date of first discovery of the loss by the investor, failure to do this would affect the investor's right to claim any compensation from the Investor Compensation Fund.


0Conversion of Counter Receipt (CR) to Certificates

    OTCEI ceased trading in CRs from 1st March 1999. The Companies listed on the Exchange are in the process of converting the CR to share certificates. All investors are advised to exchange their CR into certificates.

    Please approach any of the following IGCs for redressal of your grievances:
    or e-mail us at : investor@otcei.net

    Please write to following email address for redressal of OSL grievances:
    e-mail us at : investor.osl@otcei.net

    Mumbai
    92, Maker Towers "F"
    Cuffe Parade
    Mumbai 400 005
    Phone : (022) - 67480800/22188164/22188165
    Fax : (022) - 67480832/22188503

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