SEBI resolves 3,705 complaints via SCORES in September

12 Oct 2023 CW Team

In September, SEBI resolved 3,705 complaints against companies and market intermediaries using its online grievance redressal system SCORES, as per the regulator's data. By the end of the month, 17 complaints involving entities like Principal Mutual Fund and JM Financial Ltd remained pending for more than three months on SCORES.

SCORES functions as a platform enabling investors to file complaints related to the securities market against companies, intermediaries, and market infrastructure institutions.

At the beginning of September, there were 4,707 unresolved complaints. During the month, SEBI received 4,276 fresh complaints. As of the end of September, SEBI had 5,259 pending actionable complaints, excluding 19 cases undergoing regulatory or legal actions.

SEBI also received 219 complaint reviews. Complainants can request a review within 15 days after their complaint has been resolved. The complaints settled from September 16-30 can be reviewed in the following month for further action.

Seventeen complaints remained unresolved for more than three months as of September. These complaints pertained to mutual funds, investment advisers, research analysts, venture capital funds, stock brokers, and pre-listing/offer documents for shares.

The average resolution time for a complaint was 40 days, according to the provided data. Additionally, SEBI issued a public notice listing 12 entities against which complaints had been pending for more than three months on SCORES as of September 2023.

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