A total of 3,736 complaints against companies and market intermediaries were disposed of through Sebi’s SCORES platform in August.
As many as 21 complaints were pending for more than three months on the platform as on August and they pertained to 15 entities, including Hinduja Global Solutions Ltd, SBI Mutual Fund, Sharekhan Ltd, JM Financial Ltd, Edelweiss Global Wealth Management Ltd, as per latest data from the regulator.
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At the beginning of August, as many as 4,616 complaints were pending and 3,836 fresh complaints were received, according to the data released by the markets regulator Sebi on Monday.
The markets watchdog noted that it had received as many as 207 review of complaints in August, and a complainant can request a review within 15 days after the disposal of their complaint.
In addition, Sebi said that as of August 2023, 21 complaints were pending for more than three months.
These complaints were related to investment adviser, Refund/ Dividend/ Rights/ Redemption/ Interest, Portfolio Manager, Prelisting/ Offer document (Shares), Corporate Governance/ Listing conditions, Venture Capital Funds, Mutual Funds and Buy back of securities.
The average resolution time for a complaint was 39 days, as per the data.
In a separate public notice, the markets regulator Sebi mentioned 15 entities against whom complaints have been pending for more than three months on SCORES as of August 2023.
The entities included Hinduja Global Solutions Ltd, SBI Mutual Fund, Sharekhan Ltd, JM Financial Ltd, Edelweiss Global Wealth Management Ltd, A and M Jumbo Bags Ltd, Alka India Ltd, Asian Granito India Ltd, Onmobile Global Ltd and Dharmesh Parmar.
Kaushal Mehta, Trade Nexa Research Investment Advisor, Modern Insulators Ltd, Cinema Capital Venture Fund and Urban Infrastructure Venture Capital Fund were among the entities against whom complaints have been pending for over three months.
SCORES is a grievance redressal system that was launched in June 2011. The platform is designed to help investors lodge their complaints online with Sebi, pertaining to the securities market, against companies, intermediaries and market infrastructure institutions.
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