Motilal Oswal Alternative Investment Trust is one of the nine entities Sebi has listed for unresolved complaints on SCORES pending for over three months.
The Sebi Complaints Redressal, or SCORES, is a platform for investors to register their complaints.
Motilal Oswal's is one of the two alternative investment funds (AIFs) - the other one is Venture Catalysts Angel Fund - that have one complaint each pending.
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The Securities and Exchange Board of India (Sebi) has made its periodic issue of names of companies or intermediaries or market infrastructure institutions (MIIs) having unresolved complaints for this duration on SCORES, as on November 30, 2023.
There are nine entities in total who have complaints pending and there are 13 complaints in total.
The highest number of pending complaints is four and against a venture capital fund, Cinema Capital Venture Fund. The second highest is two and against an investment advisor named Dharmesh Parmar. The other investment advisors on the list are Amit Gupta, Kaushal Mehta, Sandeep Subhashbhai Borse and Amit Abhishek Bansal with one pending complaint against each.
Jaihind Synthetics Ltd has one pending complaint against a category titled Corporate Governance/Listing Conditions.
In November, the regulator took 47 days on an the average to resolve complaints, according a separate release issued by Sebi. The average is the sum total of time taken to resolve each complaint in the month-under-consideration divided by total number of complaints resolved in the month.
The regulator had 5,083 SCORES complaints pending in the beginning of November 2023, it said. Out of that, 2,526 were received in the month. In all, 3,754 have been disposed of and 3,849 are awaiting action.
Complainants are ask for a review of the action taken, within 15 days after the disposal of the complaint.
A total of 6,395 complaints were disposed of between October 16 and November 30 (2,641 complaints between October 16 and October 31, and 3,754 in November). Of this, only 153 saw review requests. That is, the percentage of review requests was 2.39 percent of the complaints disposed.
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The circular informed, in its footnotes, that these numbers exclude 12 complaints against which regulatory actions are initiated or which are under subjudice, and excludes complaints which are pending because of enforcement action/ court order/ legal dispute/ technical problems etc.
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