Through SCORE, SEBI handled more than 3,500 complaints in October

 Through SCORE, SEBI handled more than 3,500 complaints in October

By the end of October, there were up to 16 complaints sitting on Scores for more than three months. These complaints included 12 different businesses, including JSW Steel Ltd., Sundaram Mutual Fund, SBI Mutual Fund, UTI Mutual Fund, Were Renewable Technologies Ltd., as well as Tirupati Fincorp Ltd.

Data issued by the capital markets regulator shows that in October, Sebi resolved 3,533 complaints against corporations and market intermediaries using its online grievance redressal system, SCORES. By the end of October, there were up to 16 complaints sitting on Scores for more than three months. These complaints included 12 different businesses, including JSW Steel Ltd., Sundaram Mutual Fund, SBI Mutual Fund, UTI Mutual Fund, Were Renewable Technologies Ltd., as well as Tirupati Fincorp Ltd.

The market watchdog Sebi issued figures on November 13 showing that 3,369 new complaints were received and 5,259 outstanding complaints at the start of October. At the end of October, 5,083 actionable complaints remained unresolved, according to the agency, with the exception of 12. were the target of legal or regulatory activities.

Furthermore, SEBI said that it had 159 evaluations of complaints. After his complaint has been resolved, a complainant has 15 days to seek a review. The concerns that were resolved between October 16 and October 31 can be examined again the following month in order to take further action.

16 complaints have been unresolved for more than three months as of October. Mutual funds, investment advisors, venture capital funds, buybacks of securities, refunds, allocations, transfers of rights, redemptions, interest, and acquisitions and restructurings were all the subject of these complaints. The statistics showed that it took an average of 36 days to settle a complaint.

The markets regulator listed 12 companies in a separate public notice that complaints against had been outstanding for over three months on Scores as of October 2023. In June 2011, the Grievance Redressal System (SCORES) was introduced. It is intended to assist investors in submitting online complaints to SEBI against firms, middlemen, and organizations that support the securities market's infrastructure.