Sebi closes case against Transcon Research and Infotech

The company allegedly failed to register with the regulator's online grievance redressal system SCORES within the stipulated time period

Markets regulator Sebi has disposed of proceedings against Transcon Research and Infotech Ltd in a matter related to alleged non-compliance with its online complaint redressal system.

There was also an investor complaint pending against the company.

In its submission to the regulator, the company said that it wrote to the complainant for details on the complaint but the investor has not yet replied.

The firm further submitted that it intends to redress the investor complaint and is working in the direction.

Following this, the Securities and Exchange Board of India (Sebi) found that the company has uploaded all the relevant documents regarding the complaint on the online grievance system SCORES and also addressed the complaint.

According to the order, the complaint was about transfer of share certificates.

"Further, Sebi has observed that the company had obtained SCORES authentication on May 13, 2013 and there is no other investor complaint pending on SCORES against the company," the regulator said, disposing of the matter.

Launched by Sebi in June 2011, SCORES provides a centralised database of all complaints. Online movement of complaints to the listed companies concerned and upload of their Action Taken Reports (ATRs) are done through this system.

It also helps investors view, track and follow up the action taken on their grievances. The online redressal system has significantly helped in reducing the processing time of complaints.