SEBI Resolves 4,239 Complaints Through SCORES In April

Capital markets regulator SEBI disposed of 4,239 complaints through grievance redressal mechanism SCORES platform in April.

The markets watchdog received 4,341 fresh complaints in the month and a total of 4,263 complaints remained unresolved at the end of April, slightly higher than the 4,161 complaints that were pending as of March 31, according to a public notice by the Securities and Exchange Board of India.

The regulator also highlighted that the average resolution time taken by the entities to submit the Action Taken Reports in April was eight days, while the average time taken for complaints under First Level Review was four days, it added.

SCORES, or Sebi Complaint Redressal System, is an online platform which facilitates investors in lodging and tracking complaints against listed companies and registered intermediaries.

Under the upgraded SCORES 2.0 framework, complaints are automatically forwarded to the entities, which are given 21 days to submit an ATR to the investors.

If dissatisfied, investors can opt for a first-level review within 15 days.

During this period, complaints remain on the pending list, even if an ATR has been submitted. If the investor continues to be unsatisfied, they can escalate the issue to a second-level review by the regulator, with the same timeline for resolution applying, SEBI said.

Further, the complaints can also be disposed of if an investor opts for the Online Dispute Resolution mechanism, it added.