SEBI has started new system for tackle the investor complaints of listed companies. SEBI named it SCORES. Stock and Exchange Board of India issued a circulation about SCORES and the main features of this new system which solves the investor problem of listed companies. According to SEBI, this new system is totally electronic and one can complaint online to any listed company to SEBI with this system. The sailent features of this new system as well as the circular is as under.
CIRCULAR
CIR/OIAE/2/2011 June 3, 2011
All Companies whose securities are listed on Stock Exchanges
(through Stock Exchanges)
All recognized Stock Exchanges
Dear Sir/Madam,
Sub: Processing of investor complaints against listed companies in SEBI
Complaints Redress System (SCORES)
1. SEBI has commenced processing of investor complaints in a centralized web
based complaints redress system ‘SCORES’. The salient features of this
system are:
• Centralised database of all complaints,
• Online movement of complaints to the concerned listed companies,
• Online upload of Action Taken Reports (ATRs) by the concerned
companies, and
• Online viewing by investors of actions taken on the complaint and its
current status.
2. All complaints pertaining to companies will be electronically sent through
SCORES at http://scores.gov.in/Admin. The companies are required to view the
complaints pending against them and submit ATRs alongwith supporting
documents electronically in SCORES. Failure on the part of the company to
update the ATR in SCORES will be treated as non redressal of investor
complaints by the company. Submission of physical ATR will not be accepted for
complaints lodged in SCORES. For complaints forwarded to companies on or
before 20/05/2011, physical ATRs should be submitted.
3. The user id and password for logging into SCORES at http://scores.gov.in/Admin
are being communicated separately to companies against whom complaints are
lodged in SCORES.
4-In case the complaints are processed by the Registrar to Issue and Share
Transfer Agent (RTI/STA) on behalf of the company, the company should
indicate in the enclosed Annexure whether they require the facility to forward
complaints to the RTI/STA, so that the ATRs can be uploaded by them. In such
cases, the name of the RTI/STA, the name of the Compliance Officer and email
id should be furnished, so that the user id and password can be provided
accordingly. Further, failure on the part of the RTI/STA to update the ATR in
SCORES will be treated as non redressal of investor complaints by the company.
5. This Circular supercedes the Circular No.OIAE/Cir-1/2009 dated November 25,
2009 so far as it relates to Annexure-C to the said Circular wherein the
companies had to submit physical ATRs on the complaints forwarded by SEBI to
them.
6. All companies whose securities are listed on Stock Exchanges are advised to
comply with the aforesaid Circular.
7. 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
exchange and also to disseminate the same on the website.
8. 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.
9. This Circular is available on SEBI website at www.sebi.gov.in.
Yours faithfully,
G.P.Garg
Chief General Manager
Office of Investor Assistance and Education
Tel No.022-26449400
Email id - gpg@sebi.gov.in
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