Sebi's SCORES platform disposes of 3,079 complaints in June

SEBI also noted that as of June 2023, 12 complaints were pending for more than three months, the data showed.

A total of 3,079 complaints against companies and market intermediaries have been disposed of through the Securities and Exchange Board of India's (SEBI) SCORES platform in June.

At the beginning of June, as many as 3,141 complaints were pending, and 3,967 fresh complaints were received, according to the data released by the market regulator.

SEBI also noted that as of June 2023, 12 complaints were pending for more than three months, the data showed. These complaints were related to investment advisers and research analysts.

The average resolution time for a complaint was 31 days, as per the data. In a separate public notice, the markets watchdog mentioned eight entities against whom complaints have been pending for more than three months on SCORES as of June 2023.

The entities included Research Guru, Umesh Kumar Pandey Prop. Aurostar Investment Advisory Services, Dharmesh Parmar, Grovalue Financial Services, Highlight Investment Research, Wealth Factor, Rajiv Kumar Singh Proprietor Elite Investment Advisory Services and Kaushal Mehta.

SCORES is a grievance redressal system that was launched in June 2011. It is designed to help investors to lodge their complaints online with SEBI, pertaining to the securities market, against companies, intermediaries and market infrastructure institutions.