 "Sebi resolves over 3,700 complaints through SCORES in September")
Sebi has disposed of 3,705 complaints against companies and market intermediaries through its online grievance redressal system SCORES in September, according to the data released by the regulator.
As many as 17 complaints were pending for more than three months on SCORES as of September end, involving 12 entities such as Principal Mutual Fund and JM Financial Ltd.
SCORES is a platform that allows investors to lodge their complaints online with Sebi related to the securities market against companies, intermediaries, and market infrastructure institutions.
At the beginning of September, there were 4,707 complaints pending and 4,276 fresh complaints were received, as per the data released by Sebi on Tuesday.
The regulator said that it had 5,259 pending actionable complaints as of September end, excluding 19 complaints that were under regulatory actions or legal proceedings.
Further, Sebi noted that it had received 219 reviews of complaints. A complainant can request a review within 15 days after the disposal of their complaint.
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These complaints, which were disposed of during September 1630 period, can also be reviewed during the next month for further action.
As of September, 17 complaints were pending for more than three months. These complaints were related to mutual funds, investment advisers, research analysts, venture capital funds, stock brokers, and pre-listing/offer documents (shares).
The average resolution time for a complaint was 40 days, as per the data.
In a separate public notice, the market regulator mentioned about 12 entities against whom complaints have been pending for more than three months on SCORES as of September 2023.