Steps for Initiation of the dispute resolution process by the Investor
1. The Investor shall first take up his/ her/ their grievance with SageOne (the Portfolio Manager/ Investment Manager) by lodging a complaint directly with SageOne.
2. SageOne shall address such grievance promptly within a time period of 21 (twenty-one) calendar days from the date of receipt of the grievance.
3. If the grievance is not redressed satisfactorily, the Investor may in accordance with the SCORES guidelines, escalate the same through the SCORES Portal at https://scores.gov.in/scores/Welcome.html or to SEBI office.
3.1. The complaint shall be lodged on SCORES within one (1) year from the date of cause of action, where:
3.1.1.The complainant has approached SageOne, for redressal of the complaint and SageOne has rejected the complaint OR,
3.1.2.The complainant has not received any communication from SageOne OR,
3.1.3.The complainant is not satisfied with the reply received or the redressal action taken by SageOne.
4. If the Investor is not satisfied with the extent of redressal of grievance by SageOne, there is a one-time option for ‘review’ of the extent of the redressal, which can be exercised within 15 (fifteen) days from the date of closure of the complaint on SCORES.
5. After exhausting these options for resolution of the grievance, if the Investor is still not satisfied with the outcome, he/ she/ they can initiate dispute resolution through the ODR Portal at https://smartodr.in/login. The investor(s) can also directly initiate dispute resolution through the ODR Portal if the grievance lodged with SageOne is not satisfactorily resolved at any stage of the subsequent escalations mentioned above.
6. Further, the dispute resolution through the ODR Portal can be initiated when the complaint/ dispute is not under consideration:
6.1. In terms of the paragraph 1 and 3 above;
6.2. Not pending before any arbitral process, court, tribunal or consumer forum or are non-arbitrable in terms of Indian law (including when moratorium under the Insolvency and Bankruptcy Code is in operation due to the insolvency process or if liquidation or winding up process has been commenced against the Market Participant).
7. Alternatively, the Investor can directly initiate dispute resolution through the ODR Portal, if the grievance lodged with SageOne is not satisfactorily resolved or at any stage of the subsequent escalations mentioned above.
For more details, please refer SEBI circular no. SEBI/HO/OIAE/OIAE_IAD-3/P/CIR/2023/195 dated July 31, 2023 (Updated as on December 28, 2023) titled “Master Circular For Online Dispute Resolution”. Click here to access the circular