Companies, who wish to get themselves listed, will have to get authenticated on a Sebi centralized database for investor complaints to obtain listing approval from stock exchanges, the market regulator today said.
"...it has been decided to mandate that companies desirous of getting their equity shares listed on the stock exchanges should also obtain authentication on SCORES, before listing approval is granted by your stock exchange," Sebi said in a notification.
Sebi Complaints Redressal System (SCORES) is a centralized database to fastrack redressal of investor complaints against listed companies. It facilitates online movement of complaints to the concerned listed companies by enabling online upload of Action Taken Reports (ATRs) by these companies.
The system was operationalised in June last year.
" ...(the move) is to protect the interests of investors in securities and to promote the development of, and to regulate the securities market," Sebi said.
The regulator further said that under the system, companies are required to view the complaints pending against them and submit ATRs, along with supporting documents electronically in SCORES.
"Market intermediaries can view the complaints in the SCORES system by logging in with their user ID (identity) and password, which will be communicated separately by the regulator," it added.
SEBI will also send a daily alert on pending complaints at the e-mail ID registered with it for regulatory communications.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
