Sebi's redressal portal SCORES receives 3,329 complaints in March; fixes 4,434 complaints

A total 4,434 complaints received through grievance redressal system SCORES were disposed of against listed entities or market intermediaries in March, according to data released by Sebi on Friday.

These resolved complaints include grievances brought forward from previous periods.

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At the beginning of March, a total of 2,905 complaints were pending and 3,329 complaints were received in that month, the data showed.

These complaints pertained to refund, allotment, redemption and interest, among others.

SCORES is a grievance redressal system that was launched in June 2011. It is a platform designed to help investors lodge their complaints online with Sebi, pertaining to the securities market, against companies, intermediaries, and market infrastructure institutions.

The regulator also noted that there were 73 complaints as of March 2022, which were pending for more than three months against venture capital funds, stockbrokers, research analysts and investment advisers.

It also said the average resolution time for a complaint was 30 days.

In a separate public notice, Sebi mentioned the five entities against whom these complaints have been pending for more than three months on SCORES as of March this year.

Most complaints (67) were pending against stock broker Sunness Capital India. CIG Realty Fund, Grovalue Financial Services, Abhinav Gulecha and Punit Kumar are among other entities against whom complaints have been pending for over three months.