Sebi's SCORES Resolves 3,000+ Complaints in December

New Delhi, Jan 10 (PTI) Sebi has disposed of 3,140 complaints against companies and market intermediaries through its grievance redressal platform SCORES in December, according to data released by markets regulator on Wednesday.

SCORES is a grievance redressal system launched in June 2011.

It is designed to help investors lodge their complaints online with Sebi, pertaining to the securities market, against companies, intermediaries and market infrastructure institutions.

As many as 17 complaints were pending for more than three months on SCORES as of December-end, involving 13 entities related to Motilal Oswal Alternative Investment Trust, Realty Excellence Investment Trust, and UC-RNT Fund.

At the beginning of December, 3,849 complaints were pending, while 3,071 fresh ones were received during the month, as per the data.

The markets watchdog said it had 3,780 pending actionable complaints as of December-end.

Further, Sebi noted that it had received 185 reviews of complaints. A complainant can request a review within 15 days after the disposal of their grievance.

These complaints, which were disposed of from December 16-31, 2023 can also be reviewed in the next month for further action.

As of December, 17 complaints have been pending for more than three months. These complaints were related to investment advisers, venture capital funds, alternative investment funds, and research analysts.

The average resolution time for a complaint was 42 days.

In a separate public notice, Sebi mentioned that complaints were pending against 13 entities for more than three months on SCORES as of December 2023.