Grievance Redressal Mechanism – Revised Timeline of 21 Days

Grievance Redressal Mechanism Registered Services Providers

In a recent Circular dated August 29, 2023, the attention of Issuers and R&T Agents has been drawn towards a Gazette Notification dated August 16, 2023. This notification is relevant to an important amendment in the Securities & Exchange Board of India (Depositories & Participants) Regulations, 2018, which is regarding, specifically, the amendment concerning the “Grievance Redressal Mechanism,” and a copy of the Gazette Notification has been enclosed for reference.

Issuers Registrar and Transfer Agent are duly advised to take note of the reviewed regulation 72. The regulation states that (1) the issuer, its agent, or any registered intermediary under these regulations must promptly address investor grievances immediately within a maximum of twenty-one calendar days from the grievance receipt date.

Moreover, the manner in which the redressal should be made must be as mentioned by the Board. (2) The Board is authorized to recognize a body corporate to oversee and monitor the grievance redressal process within the given timeline. SAG Infotech’s SAG RTA Offers multiple RTA Services, Circulars, and Financial Information for Unlisted Public Companies and professionals

It’s important to highlight that this recent amendment changed the timeline to “twenty-one calendar days” from the previous timeline of “thirty days” for the redressal of investor grievances. The new, adjusted timeline of “twenty-one calendar days” will apply to investor grievances received on or after August 16, 2023.

Issuers and Registrar & Share Transfer Agent are required to understand these modifications and duly inform their client companies for seamless compliance with the revised timelines.

SAG Infotech Offers RTA Services, Circulars, and Financial Information For Unlisted Public Companies and professionals (CA’s/CS’s/others)

SAG Infotech About Us

SAG Infotech, established in 1999, is a leading taxation software solution and payroll services company with a history of experience bringing innovation to the services we provide. Based in Jaipur, Rajasthan, SAG Infotech has emerged as a dynamic player in the industry, offering a range of software solutions tailored to the needs of accounting, taxation, and related business segments. Notably, SAG Infotech has achieved a milestone by building a client base of more than 50,000, which indicates our trustworthiness among our customers.

Among our distinguished software offerings, Genius Software being the most popular, is opted for and trusted by a wide user base across the nation. Other notable platforms include Gen Income Tax Software, Gen TDS, Gen Bal, and Gen Form Manager, all of which have proven indispensable for chartered accountants and company secretary professionals.

Beyond these, SAG Infotech’s Complaw, Payroll, Gen GST, XBRL Return Filing Software, and CA Portal have set industry benchmarks, delivering swift results, validation, comprehensive report generation, and efficient management.

With a workforce comprising 150+ software support executives, skilled developers, and strategic managers, SAG Infotech is recognized for its dedication to providing top-notch services. Through a blend of excellence, innovation, and commitment, SAG Infotech continues to make a profound impact in the software and services landscape.

SAG RTA About Us

SAG RTA is a division of SAG Infotech that provides Registrar & Transfer Agent Services. SAG RTA manages and oversees investor records and has built a reputation for its efficiency and reliability. The company has decades of experience and expertise to offer comprehensive RTA services that facilitate efficient shareholder management.

SAG RTA’s range of services includes share transfer, dividend distribution, dematerialization, and more. By providing these important and much-needed services, the company helps clients maintain compliance with regulatory requirements and establishes positive investor relations.

The company believes in a tech-driven approach, leveraging cutting-edge solutions to enhance RTA Service delivery, for example, using digital platforms for communication, real-time updates, and hassle-free processing.

SAG RTA (Registrar and Share Transfer Agent) takes pride in boasting experience, using technology, and being customer-centric, it continues to make its mark as a reliable RTA service provider.

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