Sebi's SCORES platform resolves 2,071 complaints in April

A total of 2,071 complaints against companies and market intermediaries have been disposed of through Sebi's SCORES platform in April, according to data released by Sebi on Thursday.

At the beginning of April, as many as 2,030 complaints were pending and 3,037 fresh complaints were received during the month.

The markets watchdog also noted that as of April 2023, 24 complaints were pending for more than three months, the data showed.

These complaints were related to investment advisers, research analysts, corporate governance, minimum public shareholding, venture capital funds, transfer/ dividend/ rights/ redemption and takeover/ restructuring. The average resolution time for a complaint was 25 days, it added.

In a separate public notice, Sebi mentioned 14 entities against who complaints have been for more than three months on SCORES as on April 2023. The entities are state-owned firms -- Oil & Natural Gas Corporation Ltd (ONGC) and Petronet LNG, Brightcom Group, Nestra Capital, Arcuttipore Tea Company Ltd, Cinema Capital Venture Fund, Uniworth Ltd, Wealth Factor, Kaushal Mehta, Research Guru.

Grovalue Financial Services, Rajiv Kumar Singh Proprietor Elite Investment Advisory Services, Ankur Jain and Umesh Kumar Pandey Prop. Aurostar Investment Advisory Services were among the entities against whom complaints are pending for over three months..

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