SEBI settles over 2800 complaints through Scores platform

SEBI settles over 2800 complaints through Scores platform

Launched in 2001, it facilitates a person to lodge a grievance online and view its status

The Securities and Exchange Board of India (SEBI) resolved a total of 2,838 complaints against companies and market intermediaries through its platform Scores (Sebi Complaint Redress System), in March.

Scores is a centralised online complaint resolution system through which the complainant can take up his grievance against a company.

According to the market regulator’s data, at the beginning of the last month, more than 2,241 complaints were pending, even though the average resolution time for a complaint is 29 days.

These included 13 complaints that were pending for over three months. In a public notice issued recently, SEBI apprised about eight entities against whom complaints were pending. These were related to investment advisers, research analysts, and restructuring.

The names were - Research Guru, Rajiv Kumar Singh (proprietor Elite Investment Advisory Services), Grovalue Financial Services, Ankur Jain, Wealth Factor, Kaushal Mehta, Nestra Capital, and Brightcom Group Ltd.

Additionally, Scores received 2,643 fresh complaints.