Sebi resolves over 6,000 complaints through SCORES platform in October

Capital markets regulator Sebi has disposed of 6,327 complaints against companies and marketplace intermediaries done its grievance redressal level SCORES successful October.

As galore arsenic 15 complaints were pending for much than 3 months connected SCORES arsenic of October-end, involving entities specified arsenic Angel One, Groww Invest Tech, Jainam Broking, Computer Age Management Services Ltd, CAMS Investor Services and Lml Ltd, according to Sebi data.

The fig of pending complaints slipped to 6,490 arsenic of October 31 from 6,685 arsenic of September 30, arsenic 6,132 caller complaints were received connected the level past month.
SCORES is simply a grievance redressal strategy launched successful June 2011.

It is designed to assistance investors lodge their complaints online with Sebi, pertaining to the securities market, against companies, intermediaries and marketplace infrastructure institutions.
Sebi, successful April this year, launched a caller mentation of SCORES with further features.

The mean solution clip for complaints processed by entities was 9 days, portion the mean clip for addressing complaints undergoing a first-level reappraisal stood astatine 5 days, the regulator said successful a nationalist notice.

Sebi said that pending complaints see cases wherever entities and designated bodies person submitted their Action Taken Reports (ATRs) wrong the stipulated time, but the complaints stay successful a pending authorities to let investors an accidental to escalate if dissatisfied.

Under SCORES 2.0, complaints are automatically forwarded to the applicable entity, which is required to taxable an ATR to the capitalist wrong 21 days.

If the capitalist is dissatisfied, they tin question a first-level reappraisal wrong 15 days, which brings the ailment backmost to the pending list. Designated bodies past grip specified complaints and supply their ATRs.

If the investors are unsatisfied aft the first-level reappraisal past they tin opt for a second-level review. Alternatively, complaints whitethorn besides beryllium resolved done the Online Dispute Resolution (ODR) mechanism. Complaints which not escalated by investors wrong the specified clip frames are treated arsenic resolved.