SEBI SCORES: SEBI Complaints Redress System

  • 3 December 2015 | 2787 Views | By Mint2Save
scores sebi complaints redress system

Almost everyone these days has developed a good habit of saving the money for speculated/ anticipated or unpredictable future needs. In this context one does save through short or long term recurring deposits / fixed deposits, investment in Life Insurance Policies, shares bonds, debentures and so many others.

Everyone, who opts for any one or more schemes for savings, does desire and wants security and safety of money so invested/saved. The Govt. dutifully does take steps to ensure safety  of the investors` investments/savings.

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In this context, in 1988, SEBI was constituted by the Central Govt. which was empowered on April 12 of 1992 under SEBI Act to monitor & regulate the functioning of companies inviting investments from investors in their shares, bonds, debentures, fixed deposits and so many other schemes. At first, it made mandatory for all companies to get them registered with SEBI and obtain consent/nod of SEBI before launching any scheme of investment in the form of shares /bonds / fixed deposits/ recurring deposits and, so on.

But, in spite of all such measures taken for safe guard of investments and interests of investors, there does occur some mischiefs /misunderstanding, cheating/frauds, complaints etc., in many cases and, for the redressal of such complaints.

With the intentions of educating the investors and safe guard their investments the SEBI has established a centralized grievances redressal system for investors which functions on – line being web based and coined the term `SEBI-SCORES: SEBI Complaints Redress System` The system does take care of complaints/grievances of investors/stake holders against the followings:-

  1. Listed companies/registrars/transferring agents
  2. Brokers/stock exchanges
  • Depository /Depository Participants(viz. NSDL,CDSL etc.)
  1. Mutual Funds/Portfolio Managers
  2. KYC(Collective investment, Merchant Bankers, Credit Rating Agency(e.g. ICRA,ICSA etc.), Foreign Investment Institutions etc.

But, followings are not covered in its purview:-

  • Banks and Bank Deposits
  • D.s with NFBC (Non Banking Financial Companies) and other matters related to them.
  • B.I. and its functionaries.
  • Functions of un-listed/un-registered companies, etc.
  • Functionaries of Ministry of Corporate Affairs like:-
  • Insurance Regulatory Authority
  • Forward markets commission
  • Pension Fund Regulatory and Development Authority
  • Functions of CCI(Competition Commission of India) for Monopoly and non-competitive practices, etc.

 

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It also advised to approach the concerned company/institution for redressal of complaint / grievance before launching /approaching complaint / grievance for redressal by SEBI SCORES.

To submit a complaint to SCORES visit SCORE page `scores.gov.in/registration.aspx

Furnishing important personal information like name, address, PAN No., e mail id etc., as asked for.

You will get a user id and pass word from SCORE; note it.

Log in page http://scores.gov.in/default.aspx; enter user id and pass word provided by SCORE as above, and, click sign in.

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Select and click `COMPLAINT REGISTRATION` to raise new complaint of the options shown on top left of the page(like `COMPLAINT REGISTRATION`/SEND REMINDER/VIEW COMPLAINT STATUS).

 

Now opens a complaint registration form. Enter/fill up all the information as asked for, like name, address, e mail id, mobile No.,PAN No., etc., etc.

Select and click from the options of category, as shown in the bottom of the form, like, Mutual Fund/Name of Broker/Depository Participant etc.

Fill up the page with necessary information, as asked for, name of the agency/company/  institution/ broker etc., against whom the complaint/grievance is being made; details/ description of complaint etc. Document upto 1 MB., may be up-loaded/attached/submitted, if felt necessary, for supporting the complaint.

Click `submit`. You will get complaint registration number (SMS and e mail confirmation).

Wait for 30 days before going for reminder etc. Using toll free Nos. like 1800 –  266- 7575 or 1800 – 22-  7575 for tracking the status of the complaint so made.

 

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