Investor Charter & Disclosure:
INVESTOR CHARTER IN RESPECT OF RAs
To distribute research reports and recommendations to the clients without discrimination.
To maintain confidentiality w.r.t publication of the research report until made available in the public domain.
To respect data privacy rights of clients and take measures to protect unauthorized use of their confidential information
To disclose the timelines for the services provided by the research analyst to clients and ensure adherence to the said timelines
To provide clear guidance and adequate caution notice to clients when providing recommendations for dealing in complex and high-risk financial products/services To treat all clients with honesty and integrity
To ensure confidentiality of information shared by clients unless such information is required to be provided in furtherance of discharging legal obligations or a client has provided specific consent to share such information.
Mode of filing the complaint with research analyst
In case of any grievance / complaint, an investor may approach the concerned Research Analyst who shall strive to redress the grievance immediately, but not
later than 21 days of the receipt of the grievance.
Mode of filing the complaint on SCORES or with Research Analyst Administration and Supervisory Body (RAASB)
Two level review for complaint/grievance against Research Analyst:
First review done by designated body (RAASB)
Second review done by SEBI
With regard to physical complaints, investors may send their complaints to:
Right to Privacy and Confidentiality Right to Transparent Practices Right to fair and Equitable Treatment Right to Adequate Information
Right to Initial and Continuing Disclosure
-Right to receive information about all the statutory and regulatory disclosures Right to Fair & True Advertisement
Right to Awareness about Service Parameters and Turnaround Times Right to be informed of the timelines for each service
Right to be Heard and Satisfactory Grievance Redressal Right to have timely redressal
Right to Exit from Financial product or service in accordance with the terms and conditions agreed with the research analyst
Right to receive clear guidance and caution notice when dealing in Complex and High-Risk Financial Products and Services
Additional Rights to vulnerable consumers
– Right to get access to services in a suitable manner even if differently abled Right to provide feedback on the financial products and services used Right against coercive, unfair, and one-sided clauses in financial agreements
Please refer to the list of all SEBI registered Research Analyst which is available on SEBI website in the following link:
Annexure – B
Complaint Data to be displayed by RAs
Formats for investors complaints data to be disclosed monthly by RAs on their
website/mobile application:
Data for the month ending – AUGUST-2025
| Sr No | Received from | Pending at the end of last month | Received | Resolved* | Total Pending# | Pending complaints> 3 months | Average Resolution time^ (in days) |
| 1 | Directly from Investors | 0 | 0 | 0 | 0 | 0 | 0 |
| 2 | SEBI (SCORES) | 0 | 0 | 0 | 0 | 0 | 0 |
| 3 | Other Sources (if any) | 0 | 0 | 0 | 0 | 0 | 0 |
| GRAND TOTAL | 0 | 0 | 0 | 0 | 0 | 0 |
Average Resolution time is the sum total of time taken to resolve each complaint in days, in the current month divided by total number of complaints resolved in the current month.
Trend of monthly disposal of complaints
| Sr No | Month | Carried forward from previous month | Received | Resolved | Pending |
| 1 | JAN 24 | 0 | 0 | 0 | 0 |
| 2 | FEB 24 | 0 | 0 | 0 | 0 |
| 3 | MAR 24 | 0 | 0 | 0 | 0 |
| 4 | APR 24 | 0 | 0 | 0 | 0 |
| 5 | MAY 24 | 0 | 0 | 0 | 0 |
| 6 | JUNE 24 | 0 | 0 | 0 | 1 |
| 7 | JULY 24 | 0 | 0 | 2 | 0 |
| 8 | AUG 24 | 0 | 0 | 0 | 0 |
| 9 | SEP 24 | 0 | 0 | ||
| 10 | OCT 24 | 0 | 0 | ||
| 11 | NOV 24 | 0 | 0 | ||
| 12 | DEC 24 | 0 | 0 | ||
| 13 | JAN 25 | 0 | 0 | ||
| 14 | FEB 25 | 0 | 0 | ||
| 15 | MAR 25 | 0 | 0 | ||
| 16 | APR 25 | 0 | 0 | ||
| 17 | MAY 25 | 0 | 0 | ||
| 18 | JUN 25 | 0 | 0 | ||
| 19 | JUL 25 | 0 | 0 | ||
| 20 | AUG 25 | 0 | 0 |
*Inclusive of complaints of previous months resolved in the current month.
#Inclusive of complaints pending as on the last day of the month.
Trend of annual disposal of complaints
| Sr No | Year | Carried forward from previous year | Received | Resolved* | Pending# |
| 1 | 2018-19 | NOT APPLICABLE | NOT APPLICABLE | NOT APPLICABLE | NOT APPLICABLE |
| 2 | 2019-20 | NOT APPLICABLE | NOT APPLICABLE | NOT APPLICABLE | NOT APPLICABLE |
| 3 | 2020-21 | NOT APPLICABLE | NOT APPLICABLE | 0 | 0 |
| 4 | 2021-22 | NOT APPLICABLE | NOT APPLICABLE | 0 | 0 |
| 5 | 2022-23 | 0 | 0 | 0 | 0 |
| 6 | 2023-24 | 0 | 0 | 0 | 0 |
| 7 | 2024-25 | 0 | 0 | 0 | 0 |
| GRAND TOTAL |
*Inclusive of complaints of previous years resolved in the current year.
#Inclusive of complaints pending as on the last day of the year.
Warning : Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Disclaimer: Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
