Investor grievance redress mechanism – new policy measures

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..... sitory Participants, AMFI for Mutual Funds and Asset Management Companies) Dear Sir/Madam, Subject: Investor grievance redress mechanism new policy measures 1. This circular is being issued in continuation to SEBI circular no. CIR/OIAE/1/2014 dated 18th December, 2014 regarding redressal of investor grievances through SEBI Complaints Redress System (SCORES) platform. 2. SCORES is a web based centralized system to capture investor complaints against listed companies and registered intermediaries and is available 24x7. It was introduced on June 8, 2011 and has been facilitating redressal of investor grievances in a speedy manner. 3. SEBI encourages investors to lodge complaints through electronic mode in SCORES. However, .....

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..... s those are sub-judice i.e. relating to cases which are under consideration by court of law, quasi-judicial proceedings etc. iii. Complaints falling under the purview of other regulatory bodies viz. RBI, IRDAI, PFRDA, CCI, etc., or under the purview of other ministries viz., MCA, etc. iv. Complaints against a sick company or a company where a moratorium order is passed in winding up / insolvency proceedings. v. Complaints against the companies where the name of company is struck off from RoC or a vanishing company as per list published by MCA. vi. Suspended companies, companies under liquidation / BIFR / etc. 7. To enhance investor satisfaction on complaint redressal, SEBI has already put in place a Complaint Review facility .....

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..... er to enhance ease, speed accuracy in redressal of investor grievance, the investor may lodge a complaint on SCORES within three years from the date of cause of complaint, where; Investor has approached the listed company or registered intermediary for redressal of the complaint and, The concerned listed company or registered intermediary rejected the complaint or, The complainant does not receive any communication from the listed company or intermediary concerned or, The complainant is not satisfied with the reply given to him or redressal action taken by the listed company or an intermediary. 9. Stock Exchanges, Depositories and the Association of Mutual Funds of India (AMFI) are accordingly advised to bring the provisions o .....

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