Money & banking › Stock broker or mutual fund problem
Trading account closure not done
What usually matters in this situation, and the papers to keep ready before you meet an advocate or free legal aid (call 15100).
Make my own list — free, 2 minutesYour situation
- Who is the problem with? Stock broker or trading app
- What went wrong? Account not closed / SIP not stopped
Where you stand
- In your favour The entity must reply on SCORES within 21 days, and you can ask for two levels of review.
- Next step For money claims, SEBI’s online dispute resolution offers conciliation and then arbitration.
Papers to gather
- Contract notes and the trade / transaction statement for the period
Shows the disputed trades or transactions. Where: Broker app or email; NSDL/CDSL statement. - Consolidated Account Statement (CAS) from NSDL or CDSL
Independent record of shares and mutual funds. Where: NSDL / CDSL email, or request online. - Bank statement showing money paid in and out
Matches money to the account. Where: Your bank.
You may also need, depending on your answers
- Your complaint to the entity and their reply, with ticket number — SCORES and SEBI review rely on it.
- Write to the broker / fund / company first, then file on SCORES — Starts the 21-day clock.
What the law says
SEBI’s SCORES 2.0 sends your complaint straight to the broker, depository participant, mutual fund, registrar or listed company, which must resolve it and file an Action Taken Report within 21 calendar days. If you are not satisfied you can ask for a first review within 15 days (by the stock exchange or depository), and then a second review by SEBI. A complaint must be filed within one year of the problem. Money disputes can go to SEBI’s online dispute resolution (SMART ODR) for conciliation and arbitration. Unregistered “tip” sellers and fake trading apps are frauds — report them to 1930 and cybercrime.gov.in.
General information, not legal advice.
Saboot will also ask
- When did it happen?
- Have you complained to them in writing?
Similar situations
- Broker did trades in my account without asking
- Shares not credited to my demat account
- Mutual fund redemption money not received
- SIP still deducted after I stopped it
- Dividend from a company never reached me
- Transfer my late father’s shares to my name
- Paid an “adviser” on Telegram for stock tips and lost money
- Broker charged huge margin penalty
Sources
- SEBI SCORES 2.0 — investor complaints (investor.sebi.gov.in)
- SEBI Online Dispute Resolution (SMART ODR) — conciliation and arbitration
The full guide: Stock broker, demat, mutual fund or listed company problem — trades, money or shares not given · All situations