Within how many days must I resolve a client complaint?
In force
Two different timelines sit in SEBI's own documents and you should know both.
The Most Important Terms and Conditions you give clients promise resolution within 7 business working days.
The RA Regulations and the Investor Charter set 21 calendar days. The same 21 days is the deadline for filing your Action Taken Report on SCORES.
Treat 7 business days as what you have told the client, and 21 calendar days as the regulatory outer limit.
Miss the 21 days on SCORES and the complaint is escalated for first review by RAASB whether or not the client asked for it.
Beyond your own process, clients can escalate through SCORES 2.0 at scores.sebi.gov.in and then to the SMARTODR platform. You must make them aware of both.
You must also publish monthly complaints data on your website by the 7th of every month, in the prescribed format. That format is three tables, not one: the month itself, a month-by-month trend for the year, and a year-by-year trend.
What SEBI says, word for word
Investor Charter Circular, ¶3“against issues dealt by them and redressal thereof, latest by 7th of succeeding month, as per the format enclosed at Annexure 'B' to this circular.”Source: SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/81, dated June 2, 2025 Open document ↗
Industry summary“Clients can escalate grievances related to research services to a designated person at the RA. RAs are responsible for resolving these grievances within 7 business working days or as specified by SEBI.”Source: Summary of Master Circular for RAs, dated June 20, 2025 Open document ↗
Regulation 26B(1)“The Research Analyst shall redress investor grievances promptly but not later than twenty-one calendar days from the date of receipt of the grievance and in such manner as may be specified by the Board.”Source: SEBI (Research Analysts) Regulations, 2014 — Regulation 26B(1) Open document ↗
SCORES Circular, ¶5.1“the Entities shall, submit the Action Taken Report ("ATR") on SCORES within 21 calendar days from the date of receipt of the complaint.”Source: SEBI Circular SEBI/HO/OIAE/IGRD/CIR/P/2023/156, dated September 20, 2023 Open document ↗