Sebi today disposed off proceeding against two companies after the regulator found the firms have resolved investors' complaints.
It was alleged the companies, Hansaflon Plastochem and Agarwal Duplex Board Mills, did not comply with the Securities and Exchange Board of India's (Sebi) circular on SCORES and failed to resolve pending investors' complaint.
The companies in separate submissions to the regulator said they have already resolved investors' complaint pending.
Noting that the submissions made, Sebi in two separate orders disposed off the proceedings against the companies.
Sebi in similar sounded orders said, "... Hereby dispose of the adjudication proceedings initiated against" Hansaflon Plastochem and Agarwal Duplex Board Mills".
Launched by Sebi in June 2011, SCORES provides a centralised database of all complaints. Online movement of complaints to the listed companies concerned and upload of their Action Taken Reports are done through this system.
It also helps investors view, track and follow up the action taken on their grievances. The online redressal system has significantly helped in reducing the processing time of complaints.
