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Labz India Notification 11 of 2012

A written-cum-video initiative to know your corporate legal position as on date

Legal Queries???

How to lodge a complaint? What are the legal rights available to an investor? Whether your company has not allowed inspection of a register? Whether you are denied of any information? Were you not called for a meeting? Are you confused with grievance redressal mechanisms available? Whether your queries to the corporate entity went unattended? Are you feeling as minority & powerless to enforce your rights? Are you unsure of the legal routes available to take ahead your venturing thoughts? Whether there is no response from the entity even after repeated reminders? Whether you do not have any proof of violation? Who are the persons responsible for attending your queries? Where is the legal registered address of the company to serve enforceable requests? Which legal authority or ministry can give remedy for my problem? Whether the documents & papers issued to me were forged? Whether Reserve bank of India or Securities & Exchange Board of India or Stock Exchanges or Competition Commission or Ministry of Corporate Affairs issues proofs for deposit of money or securities?

Solution…

Filing of complaint by an investor for grievance redressal w.r.t Corporate law>RBI>RTI>FIPB>SEBI in India:

As an investor, you understand the language of the company, its financials and the terms you have agreed for, much more than a professional involved in executing or vetting or giving an opinion on any issue pertaining to the company. However, the lack of legal knowledge may act as an impediment for you when communicating your grievances or extracting the details out of the company due to the reason of an impracticability in legal communication to make the company accountable and liable. Read More...

Requirement under Indian laws on Filing of complaint by an investor for grievance redressal w.r.t Corporate law>RBI>RTI>FIPB>SEBI in India:

There is a time-bound grievance redressal mechanism under most of the Indian laws which resolves the grievances by way of sending Show cause notice to the defaulting entities.  The authorities will take severe actions in cases of no-response to the notices.  It is said where there is a right, there is a remedy, however, one shall ensure whether the right persons were approached, reminded along with the regular intimation to all such necessary and right authorities who can take action for violation of the law through their investor protection measures.  In addition, there are various informal guidances offered by authorities themselves through public chat, emails, letters, etc…which shall also be considered alongside in order to get a wholesome picture & strengthening the right in law.  There are various Individual rights & Group rights under Company laws, Securities laws, Industrial laws, Foreign Exchange laws, Labour laws, Economic laws, Competition laws, Environmental laws, etc…Certain laws even mandates appointment of Compliance Officer/Ombudsman/Whistle Blowing mechanism to address the grievances.  Even further, public information related to our issues can be obtained from Central Public Information Officers of the respective department under the Right to Information Act, 2005.  All the available remedies shall be availed at one go!

Myth buster on Filing of complaint by an investor for grievance redressal w.r.t Corporate law>RBI>RTI>FIPB>SEBI in India:

Being a minor investor or debt holder, our grievance shall never be heard/resolved! Gone are the days, now even investors having like-minded grievances are forming an association to fight for their right and equally the authorities have drafted legal aid for investors by re-imbursing most of the expenses incurred to file cases against the defaulting entity.  The Investor Education & Protection Fund is exclusively created by various Ministries/Authorities/Autonomous bodies for meeting the investor’s reimbursements, disbursement of the rights in laws through various seminars, etc…In cases of cartels, where one party divulges crucial information will even be levied a lesser penalty.

Caution point on Filing of complaint by an investor for grievance redressal w.r.t Corporate law>RBI>RTI>FIPB>SEBI in India!!!

Ensuring the limits under limitation laws, within prescribed time limits, by using prescribed format of application along with the payment of prescribed fees and addressing it to the right applicable service of notice as per law with copies to right Ministries/Authorities/Autonomous bodies involved is quintessential while drafting your complaint or requirement.  Provide the information as sought for, at the earliest possible time.  Never reply to forged show cause notices or anonymous letters without verifying its authority.  The failed attempts made to enforce the right and the repeated reminders that went unattended shall be enclosed with proper & adequate proofs to seek the right remedy as quick as possible and do regular follow-ups.  Further, it is good to remain in touch with the shareholders, bondholders, debentureholders holding shares of your class whom you get a chance to meet during the class meeting or general meeting which will enable to enforce group rights under various laws. 

WATCH LAWLABZ VIDEO on  Filing of complaint by an investor for grievance redressal w.r.t Corporate law>RBI>RTI>FIPB>SEBI in India!!! (Click Here):

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Legally Yours,

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