The number of long-pending investor complaints against listed companies came down by nearly 10 per to 642, last month, according to market regulator Sebi.
These complaints were pending for a period of more than 60 days against 29 listed companies, including state-owned firm ONGC and IT company Zylog Systems, as on July 31, 2014, shows Sebi's Online Complaints Redress System (SCORES) data.
In comparison, as many as 712 investor complaints were pending against 29 listed companies as on June 30. Most of the companies in the June list also figured in the list for July.
As per Sebi norms, listed firms are required to redress investor complaints within a month of receiving them. The regulator has said that failure to adhere to these directions would attract penal action.
The entities that have resolved the grievances and those against whom enforcement actions have been initiated for non-redressal of complaints are excluded from the list.
Of the total 642 investor complaints pending against 29 companies at July-end, the maximum number of complaints (141) were pending against Malanpur Steel.
There were 99 investor grievances against Oil & Natural Gas Corporation, 23 against Jupiter Bioscience, 22 against West Coast Breweries & Distillers and 21 each against Rolex Pharmaceuticals and Zylog Systems.
Midfield Industries (20), Modern Cement (19), Finalysis Credit & Guarantee (17), Ranklin Solutions (16), Time Technoplast (16), Dynachem Pharmaceuticals (Exports) (15), Hybrid Financial Services (15) and Gujarat Meditech (15) are among other firms against which investor complaints were pending unresolved.
Besides, a total of 86 complaints were pending for over 60 days against three mutual funds and two registrar to an issue/share transfer agent.
Among mutual funds, SBI Mutual Fund had 24 pending complaints, while Reliance Mutual Fund and UTI Mutual Fund has 19 and 11 grievances pending against them respectively.
Registrar to an issue Karvy Computershare had 20 investor complaints pending while TSR Darashaw had 12 such grievances.
SCORES which was launched by Sebi in June 2011 provides a centralised database of all complaints, online movement of complaints to the concerned listed companies, online upload of Action Taken Reports (ATRs) by the concerned companies. It also helps investors view, track and follow up the actions taken on their grievance.
The online redressal system has significantly helped reduce the processing time of complaints.
