SEBI’s grievance redressal platform disposes of 2,245 complaints in July

A total of 2,245 complaints against listed entities and market intermediaries received through grievance redressal platform SCORES were disposed of in July, according to data released by SEBI on Wednesday.

These resolved complaints also included grievances pending from previous months.

At the beginning of July, a total of 2,116 complaints were pending while 3,210 fresh complaints were received, according to the data.

These complaints were related to refunds, allotment, redemption and interest, among others.

SCORES platform was launched in June 2011 in order to help investors lodge their complaints online with SEBI against companies, intermediaries and market infrastructure institutions.

The regulator also said that as of July 2022, there were eight complaints that were pending for more than three months, related to investment adviser, research analyst, non-demat, remat and refunds, dividends and rights, among others.

The average resolution time for a complaint was 26 days, it added.

In a separate public notice, SEBI identified seven entities against whom the complaints had been pending for more than three months.

Among them, research analyst Grovalue Financial Services Pvt Ltd has been facing the maximum number of such long-pending complaints.

The other six entities included Highlight Investment Research; Chitranjan Singh Chouhan, proprietor of Wealth Research Financial Services; Gaurav Agrawal, proprietor of Profit Vista Financial Research; COFAGR Investment Advisor, Sonal International Ltd and Pentamedia Graphics Ltd.

Published on

August 10, 2022

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