Investor grievances redressal mechanism – Handling of SCORES complaints by stock exchanges and Standard Operating Procedure for non-redressal of grievances by listed companies
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Investor grievance redressal: exchanges must enforce complaint timelines and may levy fines and freeze promoter holdings for non redressal. The circular mandates a SCORES based grievance process whereby specified investor complaints unaddressed by a company within 30 days are escalated to the Designated Stock Exchange, which must secure an Action Taken Report within 30 days and, if unresolved beyond 60 days, may levy daily fines, issue notices to promoters and direct depositories to freeze promoters' entire demat holdings; exchanges must record, publish and notify SEBI of actions and may forward cases to SEBI after prescribed thresholds are met.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Investor grievance redressal: exchanges must enforce complaint timelines and may levy fines and freeze promoter holdings for non redressal.
The circular mandates a SCORES based grievance process whereby specified investor complaints unaddressed by a company within 30 days are escalated to the Designated Stock Exchange, which must secure an Action Taken Report within 30 days and, if unresolved beyond 60 days, may levy daily fines, issue notices to promoters and direct depositories to freeze promoters' entire demat holdings; exchanges must record, publish and notify SEBI of actions and may forward cases to SEBI after prescribed thresholds are met.
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