SEBI SCORES Still Has over 4,100 Complaints To Resolve; 29 Are Pending since Past 3 Months
Moneylife Digital Team 17 November 2021
Market regulator Securities and Exchange Board of India (SEBI) says its SEBI Complaints Redress System (SCORES) platform has more than 4,100 complaints pending, with as many as 29 complaints pending for more than three months (90 days). This is against the average resolution time of 36.8 days taken for resolving complaints on the SCORES platform. The highest number of complaints pending since the past three months are against investment advisers at eight, followed by seven complaints against refund, allotment, dividend, transfer, bonus, rights, redemption and interest. Three complaints each are pending against non-demat or remat, registrars to an issue and share transfer agents and stockbrokers.
 
In a release, SEBI says, as of 31 October 2021, SCORES has 4,159 actionable complaints pending. It excludes complaints against which regulatory actions are initiated or which are under sub-judice. At the beginning of the month, the platform had 4,095 complaints pending. During October, it received 3,536 new complaints, out of which 3,676 were disposed. 
 
 
Two complaints are pending against venture capital funds. One complaint each is pending against a depository participant (Religare Securities Ltd), a mutual fund (Franklin Templeton Mutual Fund) and a research analyst (Grovalue Financial Services Pvt Ltd), the data shared by SEBI shows.
 
Century Finvest Pvt Ltd, Nirmal Bang Securities Pvt Ltd and Sunness Capital India Pvt Ltd are the three brokers against whom complaints have been pending for more than three months. 
 
 
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