SEBI's SCORES platform disposes of 2,457 complaints in May

New Delhi, June 11, 2023 

A total of 2,457 complaints against companies and market intermediaries have been disposed of through SEBI's SCORES platform in May.

At the beginning of May, as many as 2,984 complaints were pending, and 2,626 fresh complaints were received, according to the data released by markets regulator SEBI on Saturday.

The regulator also noted that as of May 2023, 28 complaints were pending for more than three months, the data showed.

These complaints were related to investment advisers, research analysts, corporate governance/ listing conditions, minimum public shareholding, venture capital funds and takeover/ restructuring.

The average resolution time for a complaint was 31 days, as per the data.

In a separate public notice, the markets watchdog SEBI mentioned 12 entities against whom complaints have been pending for more than three months on SCORES as of May 2023.

The entities included Brightcom Group Ltd, Ankur Jain, Research Guru, Umesh Kumar Pandey proprietor -- Aurostar Investment Advisory Services, Dharmesh Parmar, Grovalue financial services and Highlight Investment Research.

Deepak Ostwal proprietor of — Capital Ways Investment Adviser, Wealth Factor, Rajiv Kumar Singh proprietor — Elite Investment Advisory Services, Kaushal Mehta and Cinema Capital Venture Fund were among the entities against whom complaints are pending for over three months.

SCORES is a grievance redressal system that was launched in June 2011. It is designed to help investors to lodge their complaints online with SEBI, pertaining to the securities market, against companies, intermediaries and market infrastructure institutions.

[The Hindu Business Line]