Section 178(5) & 178(6) Companies Act, 2013 mandate that every company having more than 1,000 shareholders, debenture holders, deposit holders and any other security holders shall constitute a Stakeholders Relationship Committee to consider and resolve the grievances of the security holders of the company. As per the investors' grievances data maintained by the Ministry of Corporate Affairs, action has been initiated against 89 companies in 2015-16 and 145 companies in 2016-17. During the period from 01/04/2017 to 29/12/2017 action has been initiated against 83 companies.
The details of action initiated by Securities and Exchange Board of India (SEBI) on non-redressal of investors grievances during the last two years and current year (till date) are tabulated hereunder:-
Financial Year
Number of CompaniesAdjudication Proceedings under Section 15-I of SEBI Act,1992
Under Section 11B of SEBI Act, 19922015-16
59
52016-17
21
2112017-18 (till date)
1
0
SEBI has however stated that trading of scrips is not immediately suspended on receipt of an investor complaint for non-payment of dues to investors by listed companies.
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