Listing obligations and disclosure requirements

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ritu (Querist)
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16 January 2016 Regulation 13(4) of sebi(lodr) 2015 specifies that the listed entity to place investor complaint report before board of directors.

Does it mean before filling with the recognised Stock exchange or after filling with recognized stock exchange.
Plz help😃

ritu

ritu (Querist)
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16 January 2016 Help pls😃

Asha Kanta Sharma

Asha Kanta Sharma (Expert)
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02 August 2024 Regulation 13(4) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, addresses the handling of investor complaints by listed entities. Here's a detailed explanation of how to comply with this regulation:

### **Regulation 13(4) - Investor Complaints Report**

**Regulation 13(4)** states:

1. **Investor Complaints Report:**
- **The listed entity shall place the report on investor complaints before the board of directors at least once every quarter.**

2. **Timing of the Report:**
- **Before filing with the recognized stock exchange:** The requirement is to place the investor complaints report before the board of directors at least once every quarter. This placement should ideally occur before submitting the report to the stock exchange, but the primary compliance is about placing the report before the board.

3. **Filing with Stock Exchanges:**
- The listed entity is required to file a quarterly report on investor complaints with the stock exchanges within a specified timeframe. This report should include details of complaints received, resolved, and pending.

### **Steps to Ensure Compliance:**

1. **Prepare the Investor Complaints Report:**
- Compile the details of investor complaints, including the number of complaints received, resolved, and pending.

2. **Board Meeting:**
- Ensure the report is placed before the board of directors in a board meeting within the quarter. This is a requirement to ensure that the board is kept informed of the status of investor complaints.

3. **File with Stock Exchanges:**
- After placing the report before the board, file the quarterly report with the recognized stock exchanges as per the timelines prescribed by the exchanges and SEBI.

4. **Record Keeping:**
- Maintain proper records of the board meeting minutes where the report was discussed and the filing with the stock exchanges.

### **Summary:**
Regulation 13(4) mandates that the investor complaints report must be placed before the board of directors at least once every quarter. The timing for this placement is **before** the report is filed with the recognized stock exchange. However, the priority is ensuring the board is informed in a timely manner, and then proceeding with the necessary filings to the stock exchanges.

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