Sebi bans 8 cos for failure to address investor grievances

Sebi today barred eight companies from the securities market till they resolve all pending investor grievances.

These entities would also be required to get their SCORES (Sebi Complaints Redress System) authentication.

The companies against which Sebi has taken action are Sarda Information Technology, Supreme Telecoms and Network India, Sanwan Software, Sun Infoways, Systel Infotech, Subhlaxmi Export, Shanti Packaging and Rishab Concast.

In eight separate and almost similarly worded orders, the Securities and Exchange Board of India (Sebi) restrained all of them from the capital market till all pending investor grievances are resolved.

"Failure to redress investor grievances, by a listed company adversely affects the confidence of investors in the securities market," one of the orders said.