SEBI’s SCORES Platform Disposes 4,415 Complaints in June 2023

SEBI’s SCORES Platform Disposes 4,415 Complaints in June 2023

If unsatisfied, investors can seek a second-level review with the designated body and subsequently with SEBI — each within a 15-day window.

The Securities and Exchange Board of India’s (SEBI’s) SCORES (SEBI Complaint Redressal System) platform disposed of 4,415 investor complaints in June 2023 while receiving 4,959 new complaints. At the end of June, 5,107 complaints remained unresolved, compared to 4,563 pending at the end of May.

On average, listed entities and intermediaries took about 8 days to submit Action Taken Reports (ATRs) and 4 days to resolve first-level reviews. Under SCORES 2.0, complaints are automatically forwarded to the concerned company or intermediary, who must respond within 21 days. Investors unsatisfied with the reply may seek a first-level review within 15 days, and if still dissatisfied, can escalate to a second-level review with a designated body, then SEBI — each within 15 days.

If the investor opts for the Online Dispute Resolution (ODR) mechanism, the complaint is treated as resolved under SCORES. The system is part of SEBI’s efforts to enhance investor protection and accountability in India’s capital markets.