Mumbai: The Securities and Exchange Board of India (Sebi) resolved 4,239 complaints in April through its online grievance redressal system called SCORES. This platform helps investors file and track complaints against listed companies and registered intermediaries.
New Complaints and Pending Cases
In April, Sebi received 4,341 new complaints. Despite resolving many, the number of pending complaints rose slightly. At the end of April, 4,263 complaints were still unresolved. This was a small increase from 4,161 pending complaints on March 31.
Faster Complaint Resolution
Sebi noted that, on average, it took eight days for entities to submit their Action Taken Reports (ATRs). For complaints under First Level Review, the average time was just four days. These timelines show that Sebi is working faster to solve investor issues.
How SCORES 2.0 Works
The upgraded SCORES 2.0 system automatically sends complaints to the concerned entities. These entities get 21 days to reply and submit their ATRs directly to the investor.
If the investor is not happy with the reply, they can ask for a First Level Review within 15 days. During this time, the complaint is still counted as pending, even if an ATR is already given.
If the investor is still not satisfied, they can go for a Second Level Review. This review also follows the same 21-day time limit for a reply.
Option for Online Dispute Resolution
Sebi also mentioned that investors can choose the Online Dispute Resolution (ODR) mechanism. If this option is selected, the complaint can be marked as resolved through that process.
(With PTI Inputs)
