SCORES Facilitated by SEBI Works Well in Solving Investor Complaints

With the new mechanism SCORES (SEBI Complaints Redress System) launched by market regulator SEBI in 2011, the investor grievance redressal had improved significantly during the first eight months of the financial year 2012-13.

SCORES, a web-based centralised system enables investors to lodge complaints through website www.scores.gov.in against a listed company/intermediary registered with SEBI. The system also enables the intermediaries of the market and the listed companies to receive investor complaints online and report the redressal online.

According to SEBI, there were 20,801 complaints received and 30,979 were disposed of :nearly 150% during the fiscal 2012-13.

All the activities, starting from lodging a complaint until closure by SEBI will be done online and the status can be viewed online. An investor who has no knowledge of SCORES can go with the physical form of complaining for lodging complaints. However, such complaints will be later scanned and uploaded into SCORES website for processing.

SEBI is taking non-redressal of complaints seriously and initiated a regulatory action against over 350 companies, compared to the 12 companies in 2010-11 and 2011-12.

Source: The Hindu Business Line