Sebi resolves 5,000+ investor complaints via SCORES platform in June

According to Sebi data reported by Zee News, 17 complaints were pending for more than three months on SCORES as of June-end, involving entities such as Aditya Birla Money Ltd, Finolex Industries, and HBL Power Systems. The regulator clarified that the pending complaints figure also includes cases where entities or designated bodies have submitted their action taken reports (ATRs) within the prescribed timeline, but the complaints continue to remain pending as investors are entitled to seek a review if they are dissatisfied with the response.

As reported by Zee News, entities took an average of four days to submit ATRs on investor complaints during June, while the average resolution time for first-level review complaints stood at eight days. Under SCORES 2.0, complaints are automatically forwarded to the entity concerned, and they have 21 days to submit the ATR to the investor. If investors are not satisfied with the response, they can seek a first-level review within 15 days, following which the complaint is examined by a designated body that submits the ATR.

According to Zee News, investors can also seek a second-level review in another 15 days if they remain dissatisfied with the response. In such cases, Sebi directly examines the matter and submits its ATR. Complaints are also treated as disposed of if investors opt for the online disputes redressal (ODR) mechanism. The platform operates under a tiered review system where investors can escalate complaints through multiple levels if they remain unsatisfied with the initial response.