Sebi restrains Via Media, Viral Syntex from capital market

Sebi today barred two companies -- Via Media India Ltd and Viral Syntex Ltd -- from securities market till they obtain registration with its online complaint system and resolve pending investor grievances.
Listed companies have to get registered with Securities and Exchange Board of India's online investor redressal system SCORES.
Both companies have been prohibited by Sebi from accessing the securities market and from buying, selling or dealing in securities, directly or indirectly, till it obtains SCORES authentication and resolve the pending investor grievances as well.
In separate but similarly-worded orders, Sebi said both companies have not shown any tenacity in resolving the investor grievances.

"Failure to redress investor grievances by a listed company adversely affects the confidence of investors in the securities market," it said in both orders.
With regard to Via Media, investor complaints are pending unresolved since 1997 whereas in the case of Viral Syntex, such complaints have been pending since 2002.