Sebi resolves over 3,700 complaints through SCORES in November

Sebi has disposed of 3,754 complaints against companies and market intermediaries through its online grievance redressal system SCORES in November, according to the data released by the capital markets regulator.

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.

As many as 13 complaints were pending for more than three months on SCORES as of November-end, involving nine entities such as Motilal Oswal Alternative Investment Trust, Cinema Capital Venture Fund, Venture Catalysts Angel Fund, and Jaihind Synthetics Ltd.

At the beginning of November, there were 5,083 complaints pending while 2,526 fresh complaints were received, as per data released by the markets watchdog on Wednesday.

The regulator said it had 3,849 pending actionable complaints as of November-end, excluding 12 complaints that were under regulatory actions or legal proceedings.

Further, Sebi noted that it had received 153 reviews of complaints. A complainant can request a review within 15 days after the disposal of their grievance.

These complaints, which were disposed of from November 16-30, can also be reviewed during the next month for further action.

As of November, 13 complaints were pending for more than three months. These complaints were related to investment advisers, venture capital funds, corporate governance/listing conditions, and alternative investment funds.

The average resolution time for a complaint was 47 days, as per the data.In a separate public notice, the markets regulator mentioned about nine entities against whom complaints have been pending for more than three months on SCORES as of November 2023.