Sebi resolves 2,838 complaints against firms via SCORES platform in March

A total of 2,838 complaints against companies and market intermediaries were disposed of through Sebi's SCORES platform in March.

At the beginning of March, as many as 2,241 complaints were pending and 2,643 fresh complaints were received during the month, the data released by Sebi on Monday showed.

The regulator also noted that as of March 2023, 13 complaints were pending for more than three months. These complaints were related to investment adviser, research analyst and takeover/ restructuring.

The average resolution time for a complaint was 29 days, it added.

In a separate public notice, Sebi mentioned eight entities against whom complaints have been pending for more than three months on SCORES as of March 2023.

These entities are Research Guru, Rajiv Kumar Singh (proprietor Elite Investment Advisory Services), Grovalue Financial Services, Ankur Jain, Wealth Factor, Kaushal Mehta, Nestra Capital and Brightcom Group Ltd.

SCORES is a grievance redressal system that was launched by the Securities and Exchange Board of India (Sebi) in June 2011.