Grievance redressal mechanism News

NGT has held the Government of NCT Delhi liable to pay environmental compensation of Rs. 900 crores This amount has to be used for restoration measures to recover the land which is 10 times the value There is also a need to strengthen the Control Room and set up a Grievance Redressal Mechanism accessible to the citizens to extend immediate help in emergencies within a month

The new norms include public dissemination of profiles of arbitrators, performance review of such arbitrators, three - stage fee structure for faster implementation of award and to discourage delayed filling of arbitrations by trading members.

Mutual fund houses received about 21,000 complaints from investors in 2014-15, a drop of 30 percent from the preceding fiscal year on account of efficient grievance redressal mechanism.

"All listed companies and Sebi registered intermediaries shall review their investors grievances redressal mechanism so as to further strengthen it and correct the existing shortcomings, if any," Sebi said in a circular.