Capital markets regulator Sebi has disposed of 6,327 complaints against companies and market intermediaries through its complaint redressal platform SCORES in October.
About 15 complaints have been pending for more than three months against SCORES since the end of October, involving entities such as Angel One, Groww Invest Tech, Jainam Broking, Computer Age Management Services Ltd, CAMS Investor Services and Lml Ltd, according to Sebi. data.
The number of pending complaints fell to 6,490 as of October 31 from 6,685 as of September 30, as 6,132 new complaints were received on the platform last month.
SCORES is a grievance redressal scheme launched in June 2011.
It is designed to help investors file their complaints online with Sebi, relating to the securities market, against companies, intermediaries and market infrastructure institutions.
Sebi, in April this year, launched a new version of SCORES with more features.
The average time for resolution of complaints processed by organizations was nine days, while the average time for dealing with reviewed complaints stood at five days, the regulator said in a public notice.
Sebi said the pending appeals include cases where agencies and designated bodies have submitted Action Taken Reports (ATRs) within the stipulated time, but the appeals are still in a pending status to allow investors an opportunity to grow if they are not satisfied.
Under SCORES 2.0, complaints are automatically forwarded to the relevant entity, which is required to send an ATR to the investor within 21 days.
If the investor is not satisfied, he can seek a first-level review within 15 days, which returns the complaint to the waiting list. The designated bodies then process such complaints and issue their ATRs.
If investors are not satisfied after the first level review they can choose the second level review. Alternatively, complaints can also be resolved using the Online Dispute Resolution (ODR) mechanism. Complaints not raised by investors within the specified time periods are considered resolved.
