• Apr
  • 18
  • 2013

Redress of investor grievances through SEBI Complaints Redress System (SCORES)

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SEBI has issued a circular dated April 17, 2013 stating that, pursuant to the provisions of Section 15C of SEBI Act, 1992, all listed companies are called upon to redress the grievances of investors and inform them within 30 days of the receipt of the complaints.

SEBI has, vide this circular, also directed that the companies which are yet to obtain SCORES user ID and password are required to send their details as per the annexure to the circular to SEBI and scores@sebi.gov.in and obtain the SCORES user ID and password. In case of failure to obtain the SCORES user ID and password within 30 days of issue of this circular, the same would not only be deemed as non redressal of investor grievances but also indicate wilful avoidance of the same.

It has been directed further, that the failure by the companies to file Action Taken Reports under SCORES within 30 days of date of receipt of the grievance may also attract the provisions of Sec 15A(a) of the SEBI Act, 1992.

The circular shall come into force with immediate effect.

Mumbai, April 18, 2013

Full Text of the Circular is as follows :-

REDRESS OF INVESTOR GRIEVANCES THROUGH SEBI COMPLAINTS REDRESS SYSTEM (SCORES)

CIRCULAR NO. OIAE/1/2013, DATED 17-4-2013

1. Pursuant to the provisions of Section 15C SEBI Act, 1992, all listed companies are hereby called upon to redress the grievances of investors and inform them within 30 days of the receipt of the complaints. The details of investor grievances relating to the respective companies are available at the webpage http://scores.gov.in/admin, accessed through the respective SCORES user ID and password of each company. The companies which are yet to obtain SCORES user ID and password are required to send their details as per the enclosed Form-A to SEBI (hard copy) and by email to scores@sebi.gov.in and obtain the SCORES user ID and password. Failure to obtain the SCORES user ID and password within 30 days of issue of this circular would not only be deemed as non-redressal of investor grievances but also indicate wilful avoidance of the same.

2. Failure by companies to file Action Taken Reports under SCORES within 30 days of date of receipt of the grievance may also attract the provisions of section 15A(a) of the SEBI Act, 1992.

3. The Stock Exchanges are accordingly advised to bring the provisions of this Circular to the notice of all the companies whose securities are listed in the exchanges and to disseminate the same through their websites. Further, the Stock Exchanges should also arrange for adequate publicity of this circular through newspaper advertisements or other means, on urgent basis.

4. This Circular is issued in exercise of powers conferred under section 11(1) of the Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.

5. This Circular is available on SEBI website at www.sebi.gov.in.

ANNEXURE

AUTHENTICATION FOR SCORES

1. Name of the Company:
2. Whether complaints processed through; ‘RTI’ Company
3. Please indicate the following:
Name of the RTI (if through RTI):
Whether complaints can be passed to them
• manually by the company • directly to RTI
4. The details of the concerned person of the company to whom User id and password will be sent:
Name :
Email id:
Telephone No.:
Fax No.:
Place: Signature:
Date: Name:
Designation:
Company Seal:

Note: A scanned copy can be sent by email to scores@sebi.gov.in followed by hard copy to Office of the Investor Assistance and Education, Securities and Exchange Board of India, Plot No. C4-A, G Block, Bandra Kurla Complex, Mumbai 400 051.

Sandeep Kanoi

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