SEBI Settles 4,239 Grievances Through SCORES Platform

SEBI Settles 4,239 Grievances Through SCORES Platform

However, fresh charges have slightly exceeded the resolved cases

The capital markets regulator has disposed of 4,239 complaints through the Securities and Exchange Board of India (SEBI) Complaints Redress System (SCORES) platform in April.

The system allows investors to lodge and track complaints against listed companies. The average resolution time for Action Taken Reports was eight days while the average time taken for complaints under First Level Review was four days.

Meanwhile, it received 4,341 fresh complaints and a total of 4,263 complaints remain unresolved at the end of April.

The markets watchdog explained that SCORES is an online platform that facilitates investors in lodging and tracking complaints against listed companies and registered intermediaries.

Under the upgraded SCORES 2.0 framework, complaints are automatically forwarded to the entities and they are provided 21 days to submit an ATR to the investors. If dissatisfied, investors can opt for a first-level review within 15 days.

During that time, complaints remain pending, even if an ATR has been submitted.

However, if the investor continues to be unsatisfied, he can escalate the issue to a second-level review by the regulator based on the same timeline.

Meanwhile, the complaint can be disposed of if an investor opts for the Online Dispute Resolution mechanism.