SEBI Resolves Over 5,600 Complaints in Dec, Highlights Efficiency of SCORES 2.0

Published 16-01-2025, 12:59 pm
© Reuters.

The Securities and Exchange Board of India (SEBI) made significant strides in investor grievance redressal, resolving 5,636 complaints in December 2024 through its revamped SCORES 2.0 platform. According to SEBI's latest data, 5,826 complaints were pending as of November 30, 2024.

December saw the regulator receiving 5,193 fresh complaints, bringing the total caseload to 11,019. By the month's end, 5,383 complaints remained unresolved, SEBI stated in a public notice.

The SCORES 2.0 system, launched in April last year, has streamlined complaint handling, allowing issues to be automatically directed to the concerned entities. These entities are required to submit Action (WA:ACT) Taken Reports (ATRs) within 21 days. If an investor finds the response unsatisfactory, they can escalate the matter for a first-level review within 15 days. A second-level review can be initiated if dissatisfaction persists, following a similar timeline.

In December, the average resolution time for entities to submit ATRs was eight days, while escalated complaints at the first review level were resolved in just five days. This reflects the improved efficiency of the upgraded platform, designed to expedite investor redressal processes.

SCORES 2.0 also integrates an Online Dispute Resolution (ODR) mechanism, enabling complaints to be resolved outside the traditional review process.

However, not all complaints were resolved promptly. SEBI noted six cases pending for over three months as of December-end, involving entities like DFM Foods Ltd, Smartowner Services India Pvt Ltd, and Nikhil Dayanand Baljekar.

Launched in June 2011, SCORES has been instrumental in addressing grievances related to the securities market. With its upgraded version, SEBI has introduced additional features aimed at enhancing transparency, accountability, and user experience.

The regulator’s ongoing efforts to resolve investor complaints underscore its commitment to fostering trust in the capital markets. By resolving a substantial number of grievances and maintaining swift resolution timelines, SEBI continues to set a benchmark in investor protection.

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