In case you haven’t received dividends from the company you have invested in or have other issues such as discrepancy in allotment of shares and you are not satisfied with the response of the intermediary or the company to your problem, you can approach the capital markets regulator, the Securities and Exchange Board of India (Sebi).
Sebi has come up with a dedicated website, scores.gov.in, also known as SCORES or Sebi Complaints Redress System, which facilitates registration of complaints. The website was opened to the public on 8 June. Sebi has received about 9,000 complaints so far and at least 1,000 have been resolved already, according to a Sebi spokesperson.
However, it is mandatory to approach the intermediary or company first before registering your complaint with Sebi. Also, you can avail this facility only if you have invested in a listed company.
What type of complaints can be filed?
From complaints related to issue of shares to transfer of securities, you can file almost all types of complaints. In case you haven’t received dividends from a company, or have complaints related to allotment, redemption or interest payment, you can file complaints against listed companies.
You can also file complaints relating to stock brokers, sub-brokers, portfolio managers, stock exchanges, and even mutual funds-related complaints. You can file complaints against any issues related to depository participants, depositories and insider trading.
That’s not all, complaints against other entities, such as collective investment schemes, merchant bankers and credit rating agencies can also be filed with Sebi online.
What is the process of filing a complaint?
Visit the website and register yourself by providing basic details, including name, address and permanent account number (PAN). The website allows you to upload supporting documents in a PDF format (up to 1 MB). The website then sends you a login ID and password via email. Use this to log into the website and file the complaint.
You would need to select the complaint category and can even give a brief description of the complaint. Once you complaint is registered, you will get a unique registration number for future correspondence.
What else can you do on scores?
You can check the status of your complaint using the registration number allotted to you and can also send a reminder. In case a Sebi officer asked for clarification, you can do so online, too.
What if you cannot file an online complaint?
Send a written compliant to Sebi at its headquarters. You can get information about the relevant address at sebi.gov.in.