Sebi's SCORES platform disposed of 3,676 complaints in Oct

As many as 3,676 complaints, received through web-based centralised grievance redressal system, SCORES, have been disposed of against listed entities or market intermediaries in October, according to data disclosed by Sebi on Tuesday.

Further, there were 4,159 complaints against which regulatory actions are initiated or which are under sub-judice as of October 31, 2021.

The SCORE system, which was launched in June 2011, is a platform designed to help investors to lodge their complaints online with Sebi, pertaining to the securities market, against companies, intermediaries, and market infrastructure institutions.

At the beginning of October, there were 4,095 complaints listed at Sebi Complaints Redress System (SCORES), while in last month alone 3,536 complaints were received.

A total of 3,676 complaints were disposed of in October. These include complaints brought forward from the previous periods, data showed.

Moreover, an average of 36.8 days were taken in resolution of a complaint.

As on October 31, 2021, a total of 29 complaints were pending for more than three months and half of these complaints were pertaining to investment advisers and refund, allotment, dividend, bonus, redemptions.

Separately, the regulator has listed out the name of 27 entities against whom complaints were pending for more than three months as on October 2021. These entities include listed companies, investment advisers, stock brokers, venture capital funds, a research analyst and a mutual fund.

In March 2020, SCORES mobile application was launched.

The platform aids in tracking the status of the complaints anytime by the investor while also providing them notifications from time to time with respect to their complaints. Also, complaints lodged on the SCORES portal or the SCORES mobile app help in keeping proper audit trail of the complaint which is essential for future references.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)