SCORES (SEBI Complaints Redress System)
We have RBI, IRDA as regulator for Banking and Insurance sector respectively and we can raise complaints whenever we feel aggrieved with the bank's and insurance companies. We used to invest in Mutual Funds, Equity, Stock, Shares etc and we know that SEBI (Securities and Exchange Board of India) is the regulator for all such things but we don't know how to raise a complaint related to your Listed Companies and SEBI registered Intermediaries.
SEBI has launched a portal called SCORES for raising complaints online against aforesaid parties when you feel aggrieved as an investor. You will learn how to raise complaints, whom you can raise complaint and how you will get the solution of your grevience.
Procedure to register on SCORES portal is below-
1. What is SCORES?
SCORES is an online platform designed to help investors to lodge their complaints, pertaining to securities market, online with SEBI against listed companies and SEBI registered intermediaries. All complaints received by
SEBI against listed companies and SEBI registered intermediaries are dealt through SCORES.
2. Which are the complaints that come under the purview of SEBI?
Complaints arising out of issues that are covered under SEBI Act, Securities Contract Regulation Act, Depositories Act and rules and regulation made there under and relevant provisions of Companies Act, 2013.
3. Which are the matters that cannot be considered as complaints in SCORES?
a.) Complaint not pertaining to investment in securities market
b.) Anonymous Complaints (except whistle-blower complaints)
c.) Incomplete or un-specific complaints
d.) Allegations without supporting documents
e.) Suggestions or seeking guidance/explanation
f.) Not satisfied with trading price of the shares of the companies
g.) Non-listing of shares of private offer
h.) Disputes arising out of private agreement with companies/intermediaries
i.) Matter involving fake/forged documents
j.) Complaints on matters not in SEBI purview
k.) Complaints about any unregistered/un-regulated activity
4. Complaints against which type of companies cannot be dealt on SCORES?
Complaints against the following companies cannot be dealt through SCORES even though the complaint may be against a listed entity/SEBI registered intermediary:-
a.) Complaints against the companies which are unlisted/delisted, placed on the Dissemination Board of Stock Exchange.
b.) Complaints against a sick company or a company where a moratorium order is passed in winding-up/insolvency proceedings.
c.) Complaints against the companies where the name of company is struck off from Registrar of Companies (RoC) or a Vanishing Company as per list published by Ministry of Corporate Affairs (MCA).
d.) Suspended companies, companies under liquidation, BIFR etc.
e.) Complaints that are sub-judice i.e. relating to cases which are under consideration by court of law, quasi-judicial proceedings etc.
f.) Complaints against companies, falling under the purview of other regulatory bodies viz. The Reserve Bank of India (RBI), The Insurance Regulatory and Development Authority of India (IRDAI), the Pension Funds Regulatory and Development Authority (PFRDA), Competition Commission of India (CCI), etc., or under the purview of other ministries viz., MCA, etc.
Happy Learning !!!
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