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The Tax Publishers SEBI--SCORES SCORES: Investor Complaint Redressal Mechanism Pragya Lalwani Learned author in this article provides for the procedure of handling investor complaints redressal mechanism through SCORES platform and procedural steps for actions to be taken for any non-compliances made by listed companies and thereafter to be taken on compliances made thereto. 1. Background The main objective of the Securities and Exchange Board of India (SEBI) is to regulate the securities market in India and protect the interests of investors in securities. On several issues, investors may have complaints against listed companies or intermediaries registered with SEBI. Apart from approaching directly to concerned company/intermediary, their grievances can also be redressed through SEBI Complaints Redress System (SCORES) platform. Circulars regarding redressal of investor grievances through SCORES and actions to be taken by stock exchanges against the listed entities for non-compliance with certain provisions of SEBI (LODR) Regulations, 2015 and failure to ensure expeditious redressal of investor complaints have been issued, viz., SEBIs Circulars dt. 26-3-2018 and 22-1-2020. SEBI recently issued a Circular dt., 13-8-2020 wherein procedures for handling the SCORES complaints and actions to be taken against listed companies for not redressing the investor grievances have been provided alongwith the nature of complaints on which it is applicable such as non-receipt of bonus, dividend, duplicate share certificate, interest on securities, rights issue form; receipt of shares/refund/ dividend in physical mode instead of electronic, etc. SUBSCRIBE FOR FULL CONTENT

The Tax Publishers

SEBI--SCORES

SCORES: Investor Complaint Redressal Mechanism

Pragya Lalwani

Learned author in this article provides for the procedure of handling investor complaints redressal mechanism through SCORES platform and procedural steps for actions to be taken for any non-compliances made by listed companies and thereafter to be taken on compliances made thereto.

1. Background

The main objective of the Securities and Exchange Board of India (SEBI) is to regulate the securities market in India and protect the interests of investors in securities. On several issues, investors may have complaints against listed companies or intermediaries registered with SEBI. Apart from approaching directly to concerned company/intermediary, their grievances can also be redressed through SEBI Complaints Redress System (SCORES) platform. Circulars regarding redressal of investor grievances through SCORES and actions to be taken by stock exchanges against the listed entities for non-compliance with certain provisions of SEBI (LODR) Regulations, 2015 and failure to ensure expeditious redressal of investor complaints have been issued, viz., SEBIs Circulars dt. 26-3-2018 and 22-1-2020.

SEBI recently issued a Circular dt., 13-8-2020 wherein procedures for handling the SCORES complaints and actions to be taken against listed companies for not redressing the investor grievances have been provided alongwith the nature of complaints on which it is applicable such as non-receipt of bonus, dividend, duplicate share certificate, interest on securities, rights issue form; receipt of shares/refund/ dividend in physical mode instead of electronic, etc.