Investor Grievance Online: Complaints against MCX member? Here is what you can do

Investor Grievance Online: MCX offers traders opportunity to file a complaint against members of the exchange; a member is a brokerage firm/broker that has been granted membership on the commodities exchange

MCX Investor Grievance: Investors/Clients may lodge their grievance/complaint through E-registration, email or using the Client Complaint Form (CCF). Source: Website

Investor Grievance Online: Investor Services Centre of the Exchange deals with the complaints of Investors/Clients against the Members of the Exchange. Investors/Clients may lodge their grievance/complaint through E-registration, Email or using the Client Complaint Form (CCF) as prescribed by the Exchange along with the supporting documents.

A member is a brokerage firm (or broker) who has been granted membership on an organised stock or commodities exchange.

Investor/ Client is required to register his complaint only through E-registration. However, in case, the Investor/ Client is unable to lodge the complaint through the online portal, he may provide duly filled Client Complaint Form (CCF) & the complaint will be registered online by the Exchange. All the fields are mandatory while registering the complaint through the online portal (IGRS). It is advisable to give as much information as is available with the complainant.

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The Investor/ Client can authorise a person to attend the GRC meeting on his behalf by providing an authority letter in his name. The representative is required to carry original ID proof to present the same during the meeting.

Nature of complaints that you can file with the Investor Services Centre:

-- Execution of trades without consent of the client
-- Non-receipt of margin/security deposit given to the member
-- Non-receipt of credit balance as per the statement of account
-- Non-issuance of documents (Contract notes, bills, statement of account, agreement copy, etc)
-- Non-receipt of funds after sale of a commodity on a settlement of a contract
-- Non-receipt of the commodity after purchasing on a settlement of a contract
-- Service-Related
-- Others

Documents you need to lodge a complaint with the Investor Services Centre

-- A self-attested copy of PAN
-- Any other relevant documents, correspondence with Member substantiating your claim which you wish to rely upon

MCX has set-up 10 Investor Service Centres (ISC) to facilitate Investors/ Clients across multiple locations. Refer to the MCX website to find the ISC centres.

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The Exchange shall ensure that all the complaints are resolved at their end within 15 days from the registration of complaint with the Exchange. In case the matter does not get resolved, the same shall be referred to Grievance Redressal Committee (GRC), where the GRC shall be provided a time period of 15days to pass its Order in the respective matter.

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