Sebi’s SCORES platform disposes of 3,236 complaints in August

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Sebi’s SCORES platform disposes of 3,236 complaints in August

Saturday, 10 September 2022 | PTI | New Delhi

Sebi’s SCORES platform disposes of 3,236 complaints in August

A total of 3,236 complaints received through the grievance redressal system SCORES against companies or market intermediaries have been disposed of in August, according to data released by Sebi on Friday.

At the beginning of August, 3,058 complaints were pending and 3,292 fresh complaints were received, according to the data.

 These complaints were related to refunds, allotment, redemption and interest, among others.

 The regulator also noted that there were nine complaints as of August 2022 which were pending for more than three months related to investment adviser, research analyst, non-demat, remat, refunds, dividends and rights, among others.

 The average resolution time for a complaint was 25 days, it added.

In a separate public notice, Sebi mentioned seven entities against whom complaints have been pending for more than three months on SCORES as of August 31, 2022.

 Most complaints were pending against research analyst Grovalue Financial Services Pvt Ltd and Trans Financial Services Resources Ltd.

 Highlight Investment Research, Gaurav Agrawal Proprietor — Profit Vista Financial Research, Sonal International Ltd, Plastibends India Ltd and Precision Wires India Ltd are among other entities against whom complaints have been pending for over three months.

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

 Me for a complaint was 25 days, it added. In a separate public notice, Sebi mentioned seven entities against whom complaints have been pending for more than three months on SCORES as of August 31, 2022. Most complaints were pending against research analyst Grovalue Financial Services Pvt Ltd and Trans Financial Services Resources Ltd.

 Highlight Investment Research, Gaurav Agrawal Proprietor — Profit Vista Financial Research, Sonal International Ltd, Plastibends India Ltd and Precision Wires India Ltd are among other entities against whom complaints have been pending for over three months.

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

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