NSE Expels Sumpoorna Portfolio, Asks Investors To File Claims for Outstanding
Moneylife Digital Team 17 December 2020
The National Stock Exchange (NSE), on Tuesday while declaring as defaulter, expelled Sumpoorna Portfolio Ltd from its membership from 14 December 2020. NSE has also asked investor-clients of Sumpoorna Portfolio to submit their claims of outstanding from the Investor Protection Fund (IPF).
 
In a release, the bourse says, "NSE has expelled Sumpoorna Portfolio, a trading member from the membership of the Exchange under Rules 1 and 2 of Chapter IV of the NSEIL Rules and also declared it as a defaulter under provision 1 (a) of Chapter XII of Exchange Bye laws." 
 
NSE has issued a public notice calling for investors with outstanding from Sumpoorna Portfolio to lodge their claims. The public notice says “Constituents of Sumpoorna Portfolio are advised to file their claims with NSE within 90 days from the date of issue of the notice or by 17 March 2021.”
 
The eligible claims filed during the specified period would be considered for compensation from the IPF as per the SEBI (Securities and Exchange Board of India) provisions to the maximum extent of Rs25 lakh per client, NSE says.
 
As per this notice, investors can file their claim against Sumoorna Portfolio online at https://investorhelpline.nseindia.com/NICEPLUS/ where the relevant documents can be uploaded. A sample claim form is made available on the Exchange's website at  https://www.nseindia.com/invest/details-to-be-provided-for-lodging-claims for the convenience of the claimants.
 
Alternatively, the claim form, duly filled and signed along with relevant documents may also be sent in physical format to the defaulter’s section of the Exchange at Exchange Plaza, Bandra Kurla Complex, Bandra East. Mumbai 400051or at the regional/branch offices of the exchange. For this purpose, the format of the claim form can be downloaded from https://www.nseindia.com/  
 
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