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INVESTOR GRIEVANCE REDRESSAL MECHANISM AT SEBI

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Investor Grievance There will be occasions when an investor has a complaint against a listed company or an intermediary registered with SEBI. In the event of such complaint, the investor should first approach the concerned company/intermediary against whom there is a complaint. 

Sometimes the response received may not be satisfactory. Therefore, investors should know as to which authority they should approach, to get their complaints redressed. 

GENERAL GRIEVANCES OF INVESTORS: (June 2008, June 2012) 

Delay/default in payment of interest and repayment of deposits.

Delay in listing of securities with Stock Exchanges

Delay/Non receipt of refund orders, allotment letters and share certificates/Debenture certificates/ bonds

Furnishing inadequate information or making misrepresentation in prospectus, application form, advertisements and rights offer documents.

Delay/ Non receipt of Bonus Shares/ Rights Shares

Non receipt of Notices for meetings

Non Receipt of Annual Reports  SCORES (SEBI Complaints Redress System): (June 2015, dec 2015, dec 2013) SCORES is a web based centralized grievance redress system of SEBI (www.scores.gov.in).

SCORES enables investors to lodge and follow up their complaints and track the status of redressal of such complaints from anywhere. 

This enables the market intermediaries and listed companies to receive the complaints online from investors, redress such complaints and report redressal online. All the activities starting from lodging of a complaint till its closure by SEBI would be online in an automated environment and the complainant can view the status of his complaint online.

Features:

(i) SCORES is web enabled and provides online  access 24    

(ii) Complaints and reminders thereon can be lodged online at anytime from anywhere;

(iii) An e – mail is generated instantly acknowledging the receipt of complaint and allotting a unique complaint number to the complainant for future reference and tracking;

(iv) The complaint forwarded online to the entity concerned for its redressal;

(v) The entity concerned uploads an Action Take Report (ATR) on the complaint;

(vi) SEBI peruses the ATR and closes the complaint if it is satisfied that the complaint has been redressed adequately;

(vii) The concerned investor can view the status of the complaint online from the above website by logging in the unique complaint registration number;

(viii) The entity concerned and the concerned investor can seek and provide clarification on his complaint online to each other;

(ix) Every complaint has an audit trial; and

(x) All the complaints are saved in a central database which generates relevant MIS reports to enable SEBI to take appropriate policy decisions and/or remedial actions, if any. 

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