Sebi bans two firms in investor complaint cases

Capital market regulator Sebi today barred two companies -- Stellar Drugs and Pinky Chemicals -- from the securities market until they resolve all pending investor grievances against them.
Further, the ban will continue until they get registered with Sebi's online complaint system SCORES.
In similar-worded orders, Sebi has restrained the two firms from "accessing the securities market and from buying, selling or dealing in securities, directly or indirectly, in whatsoever manner, till it obtains SCORES authentication... and resolves all the investor grievances pending against it".
The capital markets watchdog found that eight investor complaints were pending against Stellar Drugs as on September 22, 2015 and two against Pinky Chemicals till July 30, this year.

Most of the complaints were related to non-receipt of shares after transfer.
According to Sebi norms, all listed companies are required to get SCORES authentication, failing which they would have to face enforcement action.
SCORES, which was launched by Sebi in June 2011, provides a centralised database of all complaints, online movement of complaints to the concerned listed companies and online upload of Action Taken Reports by the concerned companies.