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When retail investors encounter issues with a listed company or intermediary, they typically file a complaint with the concerned entity. If unresolved, they can escalate the grievance to SCORES, SEBI’s online platform for grievance redressal.
SEBI reported 15,372 complaints received on New SCORES between April 1 and June 30. In June alone, 7,003 complaints were filed. During this period, 10,725 complaints were resolved, with entities taking an average of 9 days to submit the action taken report (ATR).
At the start of June, there were 380 unresolved complaints, 338 of which were resolved with an average resolution time of 103 days.
SCORES is an online platform provided by SEBI where investors can lodge complaints related to the securities market against entities such as listed companies, registered intermediaries, and market infrastructure institutions.
Typically, investors first approach the company’s designated grievance officials. If unresolved, the complaint is forwarded to the entity via SCORES, which has 21 days to submit an ATR. Investors can request a first-level review within 15 days if dissatisfied. If not, the complaint is closed. If reviewed, a designated body reassesses the complaint and submits an ATR.
Investors have another 15 days for a second-level review if still unsatisfied. If not requested, the complaint is closed. If reviewed, SEBI handles the complaint and submits an ATR. Complaints are also considered resolved if the investor opts for the ODR mechanism.
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