The Securities and Exchange Board of India (SEBI) addressed more than 5,000 investor complaints in June using its online grievance redressal platform ‘SCORES’. During the month, 5,035 new complaints were received, and 5,037 complaints were resolved, reducing the total pending complaints to 5,524 by the end of June.
SEBI reported that only 17 complaints involving listed entities and intermediaries were pending for over three months as of June. Notable entities with pending complaints included Aditya Birla Money Ltd, Finolex Industries, and HBL Power Systems.
Entities took an average of four days to submit Action Taken Reports (ATRs) on investor complaints in June. Additionally, the average resolution time for first-level review complaints was eight days, according to the regulator.
The pending complaints data also covers cases where entities submitted ATRs within the stipulated timeline but complaints remained pending as investors have the right to request a review if unsatisfied with the response. Under the SCORES 2.0 framework, investor complaints are automatically forwarded to the respective entity, which must provide an ATR within 21 days.
Investors have the option to seek a first-level review within 15 days if dissatisfied with the response. Subsequently, a designated body reviews the complaint and submits its ATR. Investors can also request a second-level review within an additional 15 days, after which Sebi directly assesses the matter. Complaints are considered resolved if investors choose the Online Dispute Resolution (ODR) mechanism.
