Sebi bars two firms, slaps fine on one for SCORES violation

Allegedly firms did not obtain SCORES authentication within mandated time frame

Markets regulator Securities and Exchange Board of India (Sebi) has barred two companies, Multicolour Offset and Alexcon Extrusions, and penalised The Calcutta Silk Manufacturing for their failure to comply with its online complaint redressal system, SCORES.

It was alleged that the firms did not obtain SCORES authentication from Sebi within the mandated time frame. Moreover, few investor complaints were also pending against Multicolour Offset and Alexcon Extrusions.

While a fine of Rs 1.5 lakh has been imposed on The Calcutta Silk Manufacturing, Multicolour Offset and Alexcon Extrusions have been barred from the securities market till they obtain SCORES authentication and resolve all the investor grievances pending against them.

SCORES is Sebi's online platform that 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.