Context:
It has been challenging to keep track of adherence and penalize companies trading on different stock exchanges feels Ketan Mukhija senior partner Burgeon Law. He attributes this trend to the piling up of filings and more importantly the complexity involved in handling complaints most of which reach SEBI via informal routes such as WhatsApp groups.
- No of Grievances
- The complaint number at SEBI has been quite large From October 2021 to December 2024 the regulator received about 137000 investor complaints and resolved 45,000 during this period
- Disposal Rate
- SEBI has been able to dispose of around 3600 complaints per month but it is not always sufficient to bring down the backlog since new complaints keep coming in.
Impact of Delays
- Investor Frustration
- The growing number of unresolved complaints coupled with delays in resolution has contributed to a sense of frustration among investors.
- Data on Pending Cases
- Although SEBI settles a large number of complaints every month the steady flow of new cases and the existing pendency means that many complaints lie pending for long periods
SEBI Complaints Redress System (SCORES)
This is an online system that deals with investment complaints against listed entities as well as other securities market entities. The SCORES service lets the investor raise his complaint, trace the status, and even appeal for redressing. The following is how one can file a complaint at SCORES
- Process
- Register on SCORES website or app.
- Who can access SCORES?
- Investors who have a grievance against a listed company, registered intermediary, or market infrastructure institution.
- What happens after a complaint is filed?
- The entity concerned has to file an Action Taken Report with SEBI within 30 days.
- SEBI suo motu alerts entities to act in time in redressing grievances.
- What can be complained about?
- Issues with listed companies, Issues with registered intermediaries, and Issues with market infrastructure institutions. .
Source: Mint Page-14
