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How to file a complaint on Scores?

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How to file a complaint on Scores?

To register a complaint online on SCORES Portal (http://scores.giv.in) click on Complaint Registration under Investor Corner. 

The complaint registration form contains personal details and complaint details. 

There are certain mandatory fields in the form. These fields includes name, Address for correspondence, state, email address.

After filling the personal details, select the complaint category, entity name, nature of compliant related to, complaint details in brief (upto 1000 characters)

A PDF document (upto 1MB of size for each nature of complaint) can also be attached along with the complaint as the supporting documents.  

What are the limitations in dealing with complaints? Sometimes a complaint is successfully resolved and the entity is advised to send reply to complainant. But in certain cases, the entity or company denies wrongdoing, and it remains unclear as to who is wrong or whether any wrongdoing occurred at all. If this happens, SEBI cannot act as a judge or an arbitrator and force the entity or company to resolve the complaint. Further, SEBI cannot act as personal representative or attorney of the complainant. Securities laws and other laws provide important legal rights and remedies if an investor has suffered wrongdoing. On their own, investors can also seek to resolve their complaint through the courts, consumer courts, or arbitration. 

When can a case be referred for arbitration? If the grievance is not resolved by the Stock Exchange/Depository due to disputes, an investor can file arbitration subject to the Bye-laws, Rules and Regulations of the exchange / Depository. All claims, differences or disputes between the investors and stock brokers/depository participants can be filed for arbitration.   Simplified arbitration can be a less costly alternative to legal recourse before the courts of law. If the investor has an account with the broker or a depository participant (DP), he/she can choose arbitration to settle disputes. The investor generally cannot pursue an issue through arbitration if it is barred by limitation prescribed. When deciding whether to arbitrate, the investor has to bear in mind that if the broker or DP goes out of business or declares bankruptcy, he/she might not be able to recover money even if the arbitrator or court rules in his/her favor. However, with certain restriction to the nature of transactions, Stock Exchanges may settle on case to case basis the claim of an investor up to a limit prescribed in the “Investor protection fund” guidelines of the respective Stock Exchange. 

The claimant is required to carefully review the rules governing simplified arbitration before filing a claim and should also weigh the costs of arbitrating against the likelihood of being able to collect any award in favor. An investor, who has a claim / counter claim upto `10 lakh and files arbitration reference for the same within six months, need not make any deposit for filing arbitration. 

When can SEBI take action for non-resolution of the complaint? While the entity is directly responsible for redressal of the complaint, SEBI initiates action against recalcitrant entities on the grounds of their unsatisfactory redressal of large number of investor complaints as a whole. 

Which are the matters that are not considered as complaints by SEBI?

■ Complaints that are incomplete or not specific

■ Allegations without supporting documents

■ Offering suggestions or seeking guidance/explanation

■ Seeking explanation for non-trading of shares or illiquidity of shares

■ Not satisfied with trading price of the shares of the companies

■ Non-listing of shares of private offer

■ Disputes arise out of private agreement with companies/intermediaries.

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