Out of the total 10,877 complaints, 5,360 were disposed of last month by various entities regulated by the Securities and Exchange Board of India (SEBI).
The average resolution time (in days) taken by the entities to provide the Action Taken Report (ATR) is eight days. Meanwhile, it took on average four days for first-level review complaints to provide the ATR.
Pending for long
Meanwhile, there are a few companies with which the complaints have been pending for longer than three months, reveals the Sebi’s SCORES data.
These companies are SEAF India Investment Trust, Solitaire Capital India, KFin Technologies (Formerly Karvy Computershare Pvt Ltd), East India Iron & Steel Co, and Modern Insulators. With SEAF India Investment Trust, two complaints have been pending, and the remaining entities have one complaint pending each.
What is SCORES?
For the unversed, SCORES is an online grievance redressal platform provided by SEBI. Investors can file grievances relating to securities market against SEBI-regulated entities such as companies, registered intermediaries, and market infrastructure institutions (MIIs).
How can investors file a complaint with SCORES?
I. First of all, investors can fetch details from the KYC registration agency or fill out the registration form.
II. Then they can select an appropriate category of complaint, nature of complaint, and name of the Sebi-regulated entity, e.g., a listed company.
III. It is followed by tracking the status of a complaint. Automatic reminders are sent to entities for the timely resolution of complaints.
IV. Complainant can seek review of their complaint within 15 days from the date of receipt of ATR from the entity for first-level review and 15 days of receipt from the designated body for second-level review.
V. Finally, one can provide feedback on the redressal process and quality of disposal of the complaint within 15 days of closure of the complaint.
For all personal finance updates, visit here
