I have a dispute with my stock broker in Itanagar regarding unauthorised trades; how do I approach the stock exchange arbitration mechanism?
KA Asked by Kavita Joshi from India
Quick Answer
You may file an arbitration complaint with the stock exchange (BSE or NSE) under the SEBI (Stock Brokers) Regulations, 1992 and the exchange's arbitration rules, within six months of the dispute arising.
Detailed Legal Analysis
You may file an arbitration complaint with the stock exchange (BSE or NSE) under the SEBI (Stock Brokers) Regulations, 1992 and the exchange's arbitration rules, within six months of the dispute arising. The complaint must be filed with the investor grievance cell of the exchange along with contract notes, statements, and correspondence.
The exchange appoints an arbitrator, and an award is typically passed within four months, extendable. An appeal lies before the appellate arbitration panel within three months of the award.
If unsatisfied, you may approach the Gauhati High Court to set aside the award under the Arbitration and Conciliation Act, 1996. The Arunachal Pradesh Rent Control Act 2017 on arbitration procedure may supplement the exchange's rules.
SEBI's SCORES portal is also available for complaints against brokers.
Legal Provisions Referenced
Verify the current statutory text at India Code (the official repository of Indian legislation) or the Legislative Department. This answer is general legal information, not advice on your specific matter.
Disclaimer: AI-generated for educational purposes only. Does not constitute legal advice. Consult a qualified practitioner.