Sebi resolves over 4,400 complaints through SCORES portal in May

The regulator received 4,793 fresh complaints in the month and a total of 4,563 complaints remained unresolved at the end of May, slightly higher than 4,263 complaints that were pending as of April

Capital markets regulator Sebi resolved 4,493 investor complaints through its online grievance redressal platform SCORES in the month of May.

The regulator received 4,793 fresh complaints in the month and a total of 4,563 complaints remained unresolved at the end of May, slightly higher than the 4,263 complaints that were pending as of April 30, the Securities and Exchange Board of India (Sebi) said in a public notice on Friday.

The regulator also highlighted that the average resolution time taken by the entities to submit the Action Taken Reports (ATRs) in May was eight days, while the average time taken for complaints under First Level Review was five days.

SCORES, or Sebi Complaint Redressal System, is an online platform which facilitates investors in lodging and tracking complaints against listed companies and registered intermediaries. 

Under the SCORES 2.0 mechanism, complaints are automatically forwarded to the respective entities, which are required to respond within 21 days. If an investor is not satisfied, they have 15 days to seek a First Level Review.

A similar review opportunity is available at the Second Level with the designated body and subsequently with Sebi, each within a 15-day window.

Complaints are also treated as resolved if the investor chooses the Online Dispute Resolution (ODR) mechanism.

In a separate public notice, Sebi said that Smartowner Capital Growth Trust is the only entity whose investor complaint has remained unresolved for more than three months on its SCORES platform as of May 31.