TaxTMI 
TaxTMI 
TaxTMI 
Based on investors’ grievances, action has been taken against 80 companies in FY 2015-16, against 149 companies in FY 2016-17 and against 83 companies in 8 months of FY 2017-18
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....ased on investors’ grievances, action has been taken against 80 companies in FY 2015-16, against 149 companies in FY 2016-17 and against 83 companies in 8 months of FY 2017-18 <br>News and Press Release<br>Dated:- 3-1-2018<br><BR>Section 178(5) & 178(6) Companies Act, 2013 mandate that every company having more than 1,000 shareholders, debenture holders, deposit holders and any other security ho....
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....lders shall constitute a Stakeholders Relationship Committee to consider and resolve the grievances of the security holders of the company. As per the investors' grievances data maintained by the Ministry of Corporate Affairs, action has been initiated against 89 companies in 2015-16 and 145 companies in 2016-17. During the period from 01/04/2017 to 29/12/2017 action has been initiated against 83 ....
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....companies. The details of action initiated by Securities and Exchange Board of India (SEBI) on non-redressal of investors grievances during the last two years and current year (till date) are tabulated hereunder:- Financial Year Number of Companies Adjudication Proceedings under Section 15-I of SEBI Act,1992 Under Section 11B of SEBI Act, 1992 2015-16 59 5 2016-17 21 211 2017-18 (till....
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.... date) 1 0 SEBI has however stated that trading of scrips is not immediately suspended on receipt of an investor complaint for non-payment of dues to investors by listed companies. This was stated by Shri P.P. Chaudhary, Minister of State for Corporate Affairs in written reply to a question in Rajya Sabha.<BR> News - Press release - PIB....