Investor Charter for Depository Participants

Towards making Indian Securities Market - Transparent, Efficient, & Investor friendly by providing safe, reliable, transparent and trusted record keeping platform for investors to hold and transfer securities in dematerialized form.

  • To hold securities of investors in dematerialised form and facilitate its transfer, while ensuring safekeeping of securities and protecting interest of investors.
  • To provide timely and accurate information to investors with regard to their holding and transfer of securities held by them.
  • To provide the highest standards of investor education, investor awareness and timely services so as to enhance Investor Protection and create awareness about Investor Rights.

A Depository is an organization which holds securities of investors in electronic form. Depositories provide services to various market participants - Exchanges, Clearing Corporations, Depository Participants (DPs), Issuers and Investors in both primary as well as secondary markets. The depository carries out its activities through its agents which are known as Depository Participants (DP). Details available here: NSDL and CDSL

1. Basic Services

S.No. Brief about the Activity / Service Expected Timelines for processing by the DP after receipt of proper documents
1.Dematerialization of securities7 days
2.Rematerialization of securities7 days
3.Mutual Fund Conversion / Destatementization5 days
4.Re-conversion / Restatementisation of Mutual fund units7 days
5.Transmission of securities7 days
6.Registering pledge request15 days
7.Closure of demat account30 days
8.Settlement InstructionDepositories to accept physical DIS for pay-in of securities upto 4 p.m. and DIS in electronic form upto 6 p.m. on T+1 day

2. Depositories provide special services like pledge, hypothecation, internet based services etc. in addition to their core services and these include:

Sr. no Type of Activity /Service Brief about the Activity / Service
1Value Added ServicesDepositories also provide value added services such as
Basic Services Demat Account (BSDA)
Transposition cum dematerialization
Linkages with Clearing System
Distribution of cash and non-cash corporate benefits (Bonus, Rights, IPOs etc.), stock lending, demat of NSC / KVP, demat of warehouse receipts etc.
2Consolidated Account statement (CAS)CAS is issued 10 days from the end of the month (if there were transactions in the previous month) or half yearly (if no transactions).
3Digitalization of services provided by the depositoriesDepositories offer below technology solutions and e-facilities to their demat account holders through DPs
E-account opening
Online instructions for execution
e-DIS / Demat Gateway
e-CAS facility
Miscellaneous services

Details of Grievance Redressal Mechanism

  1. The Process of investor grievance redressal
Sr No
1Investor Complaint/ GrievancesInvestor can lodge complaint/ grievance against the Depository/DP in the following ways:
1. Electronic mode:
SCORES a web based centralized grievance redressal system of SEBI
Respective Depository’s web portal dedicated for the filing of compliant NSDL and CDSL
Emails to designated email IDs of Depository NSDL and CDSL. The complaints/ grievances lodged directly with the Depository shall be resolved within 30 days.
2. Offline mode (details of link to the form to be provided by DPs)
2Investor Grievance Redressal Committee of DepositoryIf no amicable resolution is arrived, then the Investor has the option to refer the complaint/ grievance to the Grievance Redressal Committee (GRC) of the Depository. Upon receipt of reference, the GRC will endeavor to resolve the complaint/ grievance by hearing the parties, and examining the necessary information and documents.
3Arbitration proceedingsThe Investor may also avail the arbitration mechanism set out in the Byelaws and Business Rules/Operating Instructions of the Depository in relation to any grievance, or dispute relating to depository services. The arbitration reference shall be concluded by way of issue of an arbitral award within 4 months from the date of appointment of arbitrator(s).
  1. For the Multi-level complaint resolution mechanism available at the Depositories
Details of Contact Person Address                                 Contact No. Email ID Working Hours
Customer care/ComplaintsMr. Ritesh ShahKotak Towers, 8th Floor, Building No.21, Infinity Park, Off Western Express Highway, Malad (East), Mumbai, Maharashtra - 40009718002099393ks.escalation@kotak.com9 a.m. to 6 p.m. All trading days
Head of Customer CareMr. Tabrez AnwarKotak Towers, 8th Floor, Building No.21, Infinity Park, Off Western Express Highway, Malad (East), Mumbai, Maharashtra - 400097022-42858208ks.servicehead@kotak.com9 a.m. to 6 p.m. All trading days
Compliance OfficerMr. Hiren ThakkarKOTAK SECURITIES LTD, 8th floor, Kotak Infinity Building No. 21, Infinity Park ,General A.K. Vaidya Marg, Opp. Filmcity, Malad East, Mumbai, Maharashtra-400097022-42858484ks.compliance@kotak.com9 a.m. to 6 p.m. All trading days
CEOMr. Shripal ShahKotak Towers, 8th Floor, Building No.21, Infinity Park, Off Western Express Highway, Malad (East), Mumbai, Maharashtra - 400097022-42858301ceo.ks@kotak.com9 a.m. to 6 p.m. All trading days

Guidance pertaining to special circumstances related to market activities: Termination of the Depository Participant

Type of special circumstances Timelines for the Activity/ Service
Depositories to terminate the participation in case a participant no longer meets the eligibility criteria and/or any other grounds as mentioned in the bye laws like suspension of trading member by the Stock Exchanges.Client will have a right to transfer all its securities to any other Participant of its choice without any charges for the transfer within 30 days from the date of intimation by way of letter/email.
Participant surrenders the participation by its own wish.Client will have a right to transfer all its securities to any other Participant of its choice without any charges for the transfer within 30 days from the date of intimation by way of letter/email.