SEBI's SCORES Platform Receives 3,383 complaints In December

At the beginning of the period under review, 3,526 complaints were pending and 3,383 complaints were received during the month.

Outlook Web Desk

Updated on: 12 January 2022 11:27 am

SEBI's SCORES Platform Receives 3,383 complaints In December

A total of 3,766 complaints received through grievance redressal system SCORES have been disposed of against listed entities or market intermediaries in December, according to the data released by SEBI on Wednesday.?

The resolved complaints include the ones brought forward from previous periods.?

SCORES is a grievance redressal system which was launched in June 2011.

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

At the beginning of the period under review, 3,526 complaints were pending and 3,383 complaints were received during the month, the data showed.

The regulator also noted that there were 36 complaints as of December 2021 which were pending for more than three months. These complaints were pertaining to refund, allotment, redemption and interest, among others.

It also said that average resolution time for a complaint is 35 days. In a separate public notice, SEBI mentioned the 10 entities against whom these complaints have been pending for more than three months on SCORES as of December 2021.

Most complaints were pending against stock broker Sunness Capital India. CIG Realty Fund, Karvy Investment Advisory Services, Regency Investments and Analysewise Investment Advisors are among other entities against whom complaints have been pending for over three months.