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Investor protection fund of NSE
Recently i visited NSE Defaulted /expelled brokers,
In this if a broker is a defaulter or expelled by the nse the nse gives Rs 10 lakh to the investors from the Investor Protection fund. My question is if a investor invested more than 10 lakhs i mean 20 or 30 lakhs ,how it will be settled. And if it was in the margin account what will happen ,please explain.
NATIONAL STOCK EXCHANGE OF INDIA LIMITED
'Exchange Plaza', Bandra-Kurla Compl~x, Bandra (E), Mumbai-400051
Notice is hereby given that the following trading member of the
..NationalStock Exchange of India Limited (Exchange) has been
declared a defaulter, under Chapter XII of the ~ye-Iaws of the
Exchange and Chapter XIof the Bye-laws of the NSCCL.
Member Name SESI Regn. No. Date of declaration
MIs. KASS INB230805035 Septem~er 2,
SECURITIES PVT.LTD. INF230805035 2008 . .
The constituents of the above mentioned defaulter are hereby
advised to lodge immediately claims, if any (in the prescribed
claim form) against the above trading member within 3 months
from the date of this notification and no such claims'filed beyond
that period will be entertained by ,the Exchange against the
above trading member and it shall be deemed that no such
claims exist against the a~ve mentioned trading member or
such claims, if any, shall be deemed to have been waived. The
claims filed against the above trading member will be dealt in
accordance with the Bye-Laws, Rules, Regulations and the
procedures of the Exchange/NSCCL.
The maximum compensation limit per investor, if payable out of
Investor Protection Fund under the Bye-laws, Rules and
Regulations of the Exchange is Rs. 10 Lakhs.
All the relevant papers may be sent to the Asst. Vice President,
Investor Services Cell, National Stock Exchange of India Ltd. at
"Exchange Plaza", Bandra-Kurla Complex, Bandra (E), Mumbai-
400051. The claim forms may be obtained by sending a fax on
For National Stock Ex.change of India Ltd.
Re: Investor protection fund of NSE
other than 10 lacks rest is not secured sir so if you put more than 10 lacks say 1 crore
you are at a risk of loosing 90 lacks with any broker there is a limit to which exchange can pay . in this country wehre bank deposits is secured for 1 lac i was astonished to first know that NSE was still paying 10 lacs
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