As an investor, you've certain rights, and market participants (AMC / RTA / broker / depository / advisor / distributor etc.) have to make sure your rights are not violated.
Indian securities markets are highly regulated. And if you're not satisfied with resolution of an ongoing issue with your broker or AMC you're investing with; you can approach SEBI (Securities and Exchange Board of India) to hear you out.
For any grievance related to the securities market, with a listed company/ intermediary registered with SEBI you can file a complaint with SEBI if you are not satisfied with the response from the party.
What is an intermediary in this context?
Examples of Intermediary
Depository & Depository Participant
Mutual Fund house
Broadly speaking, SEBI takes up complaints related to
Issue and transfer of securities (e.g. listing not visible after purchase)
Non-payment of dividend with listed companies
Against the various intermediaries registered with it and related issues (e.g. Mutual fund house not allowing cancellation of SIP)
You can file the complaint in the online platform called SCORES provided by SEBI and track its status.
Below are the steps to raise a complaint provided the issue had happened in the last 3 years
Register account in the SCORES portal: https://scores.gov.in/scores/Welcome.html
After login, go to Investor Corner -> Complaint Registration
Provide details like name of entity, nature of complaint and category like Mutual Fund, Broker, Portfolio Manager etc.
Detail the complaint in less than 1000 words and attach any proof in PDF format if you have.
You will receive an acknowledgment after submitting. An email and SMS also will be sent to acknowledge the same.
A response will be given to the complainant with in 30 days.
Listed Companies, Registrar & Transfer Agents, Non-Demat & Remat
Brokers, Stock Exchanges
Depository Participants, Depository
Collective Investment Schemes
Bankers to an issue
Credit Rating agencies
Custodian of securities
Venture Capital funds
KRA (KYC Registration Agency)
Alternative Investment Fund
InvITs (Infrastructure Investment Funds)
REITs (Real Estate Investment Trusts)
Complaints pertaining to commodity derivative
Investment Advisor, Research Analyst
Fake and Forged
Based on our experience, possibly the hardest part in registering a complaint on SCORES is to find which category the market participant belongs to.
If you already have this information it's quite straight-forward to file this complaint.
We have table below, which should help with filing complaint against common popular entities
Name of the Entity
5Paisa Capital Limited--NSE
Registrar & Transfer Agents
COMPUTER AGE MANAGEMENT SERVICES LTD
Coin by Zerodha
ZERODHA BROKING LIMITED--BSE
NEXTBILLION TECHNOLOGY PRIVATE LIMITED--BSE
INDMoney / INDWealth
Finzoom Investment Advisors Pvt. Ltd.
Registrar & Transfer Agents
KFIN TECHNOLOGIES PVT LTD (Formerly KARVY COMPUTERSHARE PRIVATE LIMITED (KARVY CONSUL LTD))
AREVUK ADVISORY SERVICES PVT. LTD.
Registrars & Transfer Agents
MF UTILITIES INDIA PVT. LTD.
HARVEST FINTECH PRIVATE LIMITED
Niyo Money / Goalwise
ALPHAFRONT FINSERV PRIVATE LIMITED
PayTM Money Limited
PayTM Money (Equity)
PAYTM MONEY LIMITED--BSE
Windmill Capital Private Limited
RKSV Securities India Private Limited--BSE
This is by no means an exhaustive list; and the registration can change / get defunct / recategorized at the time of reading this.
However, most of these should help you file a complaint against one of these popular entities.