Sebi’s SCORES platform receives 3,420 complaints in Jan; fixes 3,263

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At the beginning of the month, 3,135 complaints were pending and 3,420 complaints were received in January, the data showed.

A total of 3,263 complaints received through grievance redressal system SCORES have been disposed of against listed entities or market intermediaries in January, according to data released by Sebi on Thursday.

These resolved complaints include complaints brought forward from the previous periods.

At the beginning of the month, 3,135 complaints were pending and 3,420 complaints were received in January, the data showed.

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

It is a platform designed to help investors lodge their complaints online with Sebi, pertaining to the securities market, against companies, intermediaries, and market infrastructure institutions.

The regulator also noted that there were 43 complaints as of January 2022, which were pending for more than three months. These complaints were pertaining to refund, allotment, redemption and interest, among others.

These 43 complaints were pending against venture capital fund, stockbroker, bankers to an issue, investment adviser, registrar to an issue and share transfer agent (RTA) and research analyst.

It also said the average resolution time for a complaint is 30 days.
In a separate public notice, Sebi mentioned the six entities against whom these complaints have been pending for more than three months on SCORES as of January this year.

Most complaints were pending against stockbroker Sunness Capital India.

CIG Realty Fund, Bank of Maharashtra, Freedom Registry Ltd (formerly Amtrac Management Services Ltd), Grovalue Financial Services and Piyush Jain (Wealthmax) are among other entities against whom complaints have been pending for over three months.

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