there must be an arbitration clause in your contract with broker
2) invoke said clause for resolution of disputes
Complaint Against a stock broker
I have multiple times , through numerous ways tried to file an online complaint against a certain stock broker , The online procedure via sebi is extremely slow and its almost futile trying to go through the process in a smooth way , It is extremely slow and prone to glitches though I used the website ( scores) ,app and even phone number . There are new relatively new rules protecting clients from a variety of glitches and disincentives to the Broker for being extremely unsafe . I am not sure what the best way to go ahead with this would me . Thanks.
Asked 2 years ago in Business Law
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I am not sure what the best way to go ahead with this would be *** What are the different routes One can take in order to seek justice apart from the NSE & SEBI. I can by no way let the Broker get away with this and have full evidence. There is also a huge loss in notional profit on a big trade due to their negligence Both the above are available but are super slow to react. Best, +[deleted] ( Kartik) Prefer Whatsapp .
Asked 2 years ago
1) complain to NSE against the broker
2) invoke arbitration clause
3) complain to SEBI
you could take the matter to a consumer forum and file a complaint. You could also contact the Securities and Exchange Board of India (SEBI) and file a complaint. They have a dedicated grievance redressal system in place to address such issues.
You may jot down the grievances chronologically and then you can reduce them to writing and make them as a complaint, send it by registered post to SEBI with acknowledgement card.
You will certainly get a reply.
If no reply received you may approach a lawyer to take appropriate legal.
The broker cannot be held liable for the market behavior or loss.
You can complaint against the broker only if he had indulged in any fraudulent activity cheating you and making you suffer heavy losses.
If it's cheating you can go against them by filing police complaint and if it's deficiency of service them consumer complaint
Would you please elaborate your issue so as to enable me to give a more concrete advice
You can proceed under criminal law against the broker but the details of the case are not clear as of now.
Dear Sir,
To be frank, to get a end result on your complaint may be very slow but u should lodge complaint not only to SEBI and also to NSE. In the meanwhile to enlarge the law u may go to High Court by filing PIL and necessary directions may be taken against SEBI to dispose off your complaint within certain time limit.
- If the said loss is due to the fault or concealment of fact by the broker , then you can lodge a compliant against him before the SEBI
- If no response then send a legal notice to the said broker for the refund of the amount of loss
- Further, if no positive result , then approach the consumer forum against him
Dear client
If you have been having difficulty filing an online complaint against the stock broker through the SEBI website, you may want to consider contacting SEBI directly for assistance. You can try contacting SEBI's toll-free helpline at [deleted] or [deleted]. Alternatively, you can send an email to SEBI at [deleted], explaining the issues you have been facing with filing the complaint online and requesting guidance on the best way to proceed.
In addition, you may want to consider consulting with a lawyer who specializes in securities law or investor protection. They may be able to provide you with guidance on the legal options available to you, and help you navigate the complaint process.
