The Ministry of Corporate Affairs has initiated action against 49 companies in 2010-11, 39 companies in 2011-12 and 78 companies in 2012-13 based on investors’ grievances. Giving this information in written reply to a question in the Rajya Sabha recently, Shri Sachin Pilot, Minister of Corporate Affairs, said that Securities and Exchange Board of India (SEBI) also initiates action for redressing complaints of non-payment of dividend/ interest on listed securities, pertaining to companies listed with stock exchanges. Companies which fail to pay dividend face action under sections 11B/15C of the SEBI Act, 1992. Details of action taken for non-redressal of investor grievances year-wise, during the last three years in respect of such companies are as follows:

 

Investor grievance enforcement: regulatory action and SEBI proceedings address non payment of dividend and related complaints. The Ministry of Corporate Affairs initiated action against companies on investor grievances (49 in 2010-11; 39 in 2011-12; 78 in 2012-13). SEBI separately enforces compliance for listed companies on complaints of non payment of dividend or interest under statutory SEBI Act enforcement provisions, distinguishing summary enforcement actions from formal adjudication proceedings and providing year wise counts of enforcement versus adjudication for the three financial years.