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

A total of 2,457 complaints against companies and brokers in the market were adjudicated SippySCORES platform in May.

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

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

These complaints were related to investment advisors, research analysts, corporate governance/listing terms, minimum public shareholding, venture capital funds and acquisitions/restructurings.

The average complaint resolution time was 31 days, according to the data.

In a separate public notice, market watchdog SEBI named 12 entities against which complaints had been pending for more than three months in SCORES as of May 2023.

The entities included Brightcom Group Ltd, Ankur Jain, Research Guru, Umesh Kumar Pandey Owner – Aurostar Investment Consulting Services, Dharmesh Parmar, Grovalue Financial Services and Highlight Investment Research.

Deepak Ostwal Malik – Capital Ways Investment Adviser, Wealth Factor, Rajiv Kumar Singh Malik – Elite Investment Consulting Services, Kaushal Mehta and Cinema Capital Venture Fund were among the entities against which complaints had been pending for more than three months.

SCORES is a grievance redress system launched in June 2011. It is designed to help investors file online grievances with SEBI, in relation to the stock market, against companies, brokers and market infrastructure institutions.