Complaint pile-up tests Sebi's redressal system

The Securities and Exchange Board of India (Sebi) has resolved about 145,000 complaints since October 2021 when the data is available, but the number of unresolved complaints has been creeping up, indicating potential structural flaws in the system.

- Neha Joshi & Shayan Ghosh

MUMBAI:

Launched in 2011, the Sebi Complaints Redressal System (Scores) is a web-based, centralized platform to receive investor complaints on issues with listed companies, market intermediaries, and recognised market institutions. But experts say Scores faces challenges in terms of efficiency and timely resolution of complaints.

Sebi did not respond to Mint's queries.

"The stock market has become so active, with many companies listed on various exchanges and numerous filings, that tracking compliance and penalties has become increasingly difficult," said Ketan Mukhija, senior partner at Burgeon Law.