SEBI SCORES Has over 3,058 Complaints To Resolve; 8 Are Pending since Past 3 Months
Moneylife Digital Team 11 August 2022
Market regulator Securities and Exchange Board of India (SEBI) says its SEBI Complaints Redress System (SCORES) platform has 3,058 complaints pending, with eight complaints pending for more than three months (90 days).
 
This is against the average resolution time of 26 days taken for resolving complaints on the SCORES platform. The highest number of complaints pending since the past three months are against investment advisers at four, followed by two complaints against research analysts and one complaint each against refund, allotment, dividend, transfer, bonus, rights, redemption and interest and non-demat or remat.
 
In a release, SEBI says, as of 31 July 2022, SCORES has 3,058 actionable complaints pending. It excludes complaints against which regulatory actions are initiated or which are sub-judice. At the beginning of the month, the platform had 2,116 complaints pending. During July, it received 3,210 new complaints, out of which 2,245 were disposed. 
 
The total number of complaints pending for more than three months excludes complaints which are pending due to enforcement action, court order, legal dispute, or technical problems, SEBI says. 
 
 
Two complaints pending in the research analyst category are against Grovalue Financial Services Pvt Ltd. One complaint each is pending in the investment advisory category against Highlight Investment Research, Chitranjan Singh Chouhan (proprietor of Wealth Research Financial Services), Gaurav Agrawal (proprietor of Profit Vista Financial Research) and COFAGR investment advisor. 
 
Sonal International Ltd and Pentamedia Graphics Ltd have one complaint each pending for the past 90 days, the data shared by SEBI shows.
 
SCORES is an online platform created to help investors lodge their complaints about the securities market online against listed companies and registered intermediaries. All complaints received by SEBI against listed companies and SEBI registered intermediaries are dealt with through SCORES.
 
However, investors first need to approach the concerned company or intermediary. Only if not satisfied with their response, the investor can file a complaint online on SCORES.
Comments
Digital Loan: RBI Allows Borrower To Exit during Cool Off Period; Prohibits Lenders from Accessing Mobile Phone Resources
Moneylife Digital Team 10 August 2022
Paying heed to concerns raised by borrowers on digital loans, like the rampant engagement of third parties, mis-selling, breach of data privacy, unfair business conduct, charging of exorbitant interest rates and unethical recovery...
As Bankruptcy Reform Splutters due to Shortage of Members, NCLT Denies a Circular about Shortages
Moneylife Digital Team 09 August 2022
The shortage of judicial and technical members threatens to halt regular proceedings at the National Company Law Tribunal (NCLT), possibly derailing a big reform of the Narendra Modi government. The shortage of members is a fact and...
NSE Asks Members To Re-verify KYC for All Sikkim-based Clients
Moneylife Digital Team 09 August 2022
National Stock Exchange of India Ltd (NSE) has asked all its members to re-verify and share documents required for know-your-customer (KYC) for all of their clients who have given Sikkim as correspondence or permanent address....
e-Shram: Miles To Go!
Dr KR Shyam Sundar (The Leaflet) 09 August 2022
Nearly a year is set to expire, yet the government has managed the registration of only a little less than three-fourths of the total estimated unorganised workforce of 380 million. 
—–
Three major labour laws govern the...
Free Helpline
Legal Credit
Feedback