Investor Charter - Depository Participant
DISCLOSURE : In order to facilitate investor awareness about various activities which an investor deals with, SEBI and Depositories has prepared an Investor Charter inter-alia detailing the services provided to Investors which is displayed here for Investor’s Information.
Towards making Indian Securities Market - Transparent, Efficient, & Investor friendly by providing safe, reliable, transparent and trusted record keeping platform for investors to hold and transfer securities in dematerialized form.
To hold securities of investors in dematerialised form and facilitate its transfer, while ensuring safekeeping of securities and protecting interest of investors.
To provide timely and accurate information to investors with regard to their holding and transfer of securities held by them.
To provide the highest standards of investor education, investor awareness and timely services so as to enhance Investor Protection and create awareness about Investor Rights.
3. Details of business transacted by the Depository and Depository Participant (DP)
A Depository is an organization which holds securities of investors in electronic form. Depositories provide services to various market participants - Exchanges, Clearing Corporations, Depository Participants (DPs), Issuers and Investors in both primary as well as secondary markets. The depository carries out its activities through its agents which are known as Depository Participants (DP). Details available in the link https://nsdl.co.in/dpsch.php
4. Description of services provided by the Depository through Depository Participants (DP) to investors
(1) Basic Services
Brief about the Activity / Service
Expected Timelines for processing by the DP after receipt of proper documents
Dematerialization of securities
Rematerialization of securities
Mutual Fund Conversion / Destatementization
Re-conversion / Restatementisation of Mutual fund units
Transmission of securities
Registering pledge request
Closure of demat account
Depositories to accept physical DIS for pay-in of securities upto 4 p.m. and DIS in electronic form upto 6 p.m. on T+1 day
(2) Depositories provide special services like pledge, hypothecation, internet based services etc. in addition to their core services and these include
Type of Activity / Service
Brief about the Activity / Service
Value Added Services
Consolidated Account statement (CAS)
CAS is issued 10 days from the end of the month (if there were transactions in the previous month) or half yearly (if no transactions).
Digitalization of services provided by the depositories
5. Details of Grievance Redressal Mechanism
(1) The Process of investor grievance redressal
Investor Complaint/ Grievances
Investor can lodge complaint/ grievance against the Depository/DP in the following ways:
Electronic mode -
SCORES (a web based centralized grievance redressal system of SEBI) [https://www.scores.gov.in/scores/Welcome.html]
Respective Depository’s web portal dedicated for the filing of compliant [https://www.epass.nsdl.com/complaints/websitecomplaints.aspx]
Emails to designated email IDs of Depository : email@example.com
The complaints/ grievances lodged directly with the Depository shall be resolved within 30 days.
Investor Grievance Redressal Committee of Depository
If no amicable resolution is arrived, then the Investor has the option to refer the complaint/ grievance to the Grievance Redressal Committee (GRC) of the Depository. Upon receipt of reference, the GRC will endeavor to resolve the complaint/ grievance by hearing the parties, and examining the necessary information and documents.
The Investor may also avail the arbitration mechanism set out in the Byelaws and Business Rules/Operating Instructions of the Depository in relation to any grievance, or dispute relating to depository services. The arbitration reference shall be concluded by way of issue of an arbitral award within 4 months from the date of appointment of arbitrator(s).
6. Guidance pertaining to special circumstances related to market activities: Termination of the Depository Participant
Type of special circumstance
Timelines for the Activity/ Service
Depositories to terminate the participation in case a participant no longer meets the eligibility criteria and/or any other grounds as mentioned in the bye laws like suspension of trading member by the Stock Exchanges.
Participant surrenders the participation by its own wish.
Client will have a right to transfer all its securities to any other Participant of its choice without any charges for the transfer within 30 days from the date of intimation by way of letter/email.