A group of investors are upset with the functioning of stock brokers of Bombay Stock Exchange and want to make a complaint to Securities and Exchange Board of India (SEBI) for intervention and redressal of their grievanc

The Securities and Exchange Board of India (SEBI) was established primarily for the purpose of: To protect the interests of investors in securities To promote the development of securities market To regulate the securities market and for matters connected therewith and incidental thereto Section 15F of SEBI Act deals with penalty for default in case of stock brokers. The following defaults by stock brokers come under the purview of SEBI: Any failure on the part of the stock broker: to issue contract notes in the form and in the manner specified by the stock exchange to deliver any security or to make payment of the amount due to the investor in the manner and within the period specified in the regulations Collection of brokerage in excess of the brokerage as specified in the regulations. In respect of client's rights to dividends, rights or bonus shares etc.