Investment Broking for
Retail & Institutions

Objectives

Appreciate Broking IFSC Private Limited (“ABIPL”), CIN No. U67200GJ2021FTC126560 believes in the following principles and objectives -

• Treat all Customers fairly and consistently and conduct operations in accordance with prevailing regulatory and statutory requirements; and
• Make Appreciate’s redressal channels effective and meaningful by putting in place a structured system to ensure that customer complaints are redressed seamlessly and well within the committed time frame.

Towards the achievement of these stated objectives, ABIPL proposes to establish a robust customer grievance redressal mechanism to ensure customers are able to file complaints easily, and get timely resolution. This mechanism is designed to comply with the guidelines set forth by IFSCA and prioritize customer satisfaction.

Glossaries

• ABIPL: Appreciate Broking IFSC Pvt. Ltd.
• CRO: Complaint Redressal Officer
• CRAO : Complaint Redressal Appellate Officer

The key components of ABIPL’s customer grievance redressal policy are outlined below -

Methods of grievance submission

Complaint Handling Procedure

• Initial Complaint:

  1. On receipt of a complaint, CRO of ABIPL shall make an assessment on the merits of the complaint. Pursuant to assessment,
  2. In case of acceptance, ABIPL shall acknowledge acceptance of complaints, in writing, within 3 working days of receipt of the complaint.
  3. In case of non-acceptance, ABIPL shall inform the complainant within 5 working days along with reasons.
  4. ABIPL shall examine and process the complaint in a fair, transparent, professional and impartial manner.
  5. ABIPL shall ensure that the CRO has sufficient authority to resolve the complaint or has access to other officials with the necessary authority to be able to handle the complaint in a fair and impartial manner:
  6. ABIPL may ask for additional information from the complainant while processing the complaint.
  7. ABIPL shall dispose of complaint preferably within 15 days but ordinarily not later than 30 days of acceptance of complaint. ABIPL may either resolve the complaint or reject the complaint.
  8. In case of rejection of a complaint, ABIPL shall give reasons for rejection of the complaint, in writing.

• Appeal Mechanism

  1. If a complainant is not satisfied with the resolution provided by ABIPL or if the complaint has been rejected by the ABIPL, the complainant may file an appeal before the CRAO of ABIPL preferably within 21 days from the receipt of the decision from the CRO.
  2. The CRAO shall dispose of the Appeal within a period of 30 days.

• Complaint before the Authority

Where a complainant is not satisfied with the decision of ABIPL and has exhausted the appellate mechanism of the ABIPL, he may file a complaint before the Authority through email to grievance-redressal@ifsca.gov.in preferably within 21 days from the receipt of the decision from the ABIPL

Important Note : As a Global Access Client the following resources of the recognised stock exchanges in the IFSC shall not be available:

• Rights of investors or investor protection;
• Dispute resolution mechanism;
• Investor grievance redressal mechanism.

Escalation matrix, Compliance officer, and associated turn-around times

Appreciate’s defined customer grievance redressal escalation matrix is described below -

Grievance topics and associated methods

Maintenance of records:

Appreciate will maintain comprehensive records of all customer complaints, including details of the nature of the complaint, actions taken for resolution, and timelines for 6 years or as provided by the regulatory authorities from time to time.

Review and oversight:

• Board Approval: The Board has reviewed, approved and adopted this document as Grievance Redressal Policy.
• Periodicity of Review:
  • This Grievance Redressal Policy will be reviewed by the management either annually or whenever there’s any amendment in the policy based on the issue of any government circular relevant to customer grievances, data privacy and other related issues.
  • The Compliance Officer will review this policy periodically.
• Amendments:
  • Any amendments to this Grievance Redressal Policy will be reviewed and approved by the Board.
  • Provisions of this Grievance Redressal Policy are subject to amendments in accordance with Applicable Laws (including rules, regulations, notifications) on the subject as may be issued, from time to time. In case any provisions of this Grievance Redressal Policy are inconsistent with Applicable Laws (including any subsequent amendment(s), clarification(s), circular(s), etc.) then such provisions of Applicable Laws shall prevail over the provisions hereunder and this Grievance Redressal Policy shall be deemed to have been amended to such extent.