SEBI SCORES Platform [UPSC Notes]

The Securities and Exchange Board of India (SEBI) has resolved 2,457 complaints through its SCORES platform. In this article, we discuss SEBI’s SCORES Platform, its benefits and functions. This topic is relevant for the IAS exam, especially the IAS prelims.

What is SEBI SCORES Platform?

SCORES is a grievance redressal system that was launched in June 2011. It is designed to help investors lodge their complaints online with SEBI, pertaining to the securities market, against companies, intermediaries and market infrastructure institutions.

• These complaints were related to investment advisers, research analysts, corporate governance/listing conditions, minimum public shareholding, venture capital funds and takeover/restructuring.
• As per the data, the average resolution time for a complaint was 31 days.
• Complaints arising out of issues that are covered under the SEBI Act, Securities Contract Regulation Act, Depositories Act and rules and regulations made there under relevant provisions of the Companies Act, 2013.
• The complaint shall be lodged on SCORES within one year from the date of the cause of action.

Which are the matters that cannot be considered complaints in SCORES?

• Complaint not pertaining to investment in securities market
• Anonymous complaints (except whistleblower complaints)
• Incomplete or un-specific complaints
• Allegations without supporting documents
• Suggestions or seeking guidance/explanation
• Not satisfied with the trading price of the shares of the companies
• Non-listing of shares of a private offer
• Disputes arising out of private agreements with companies/intermediaries
• Matters involving fake/forged documents
• Complaints on matters not in SEBI’s purview
• Complaints about any unregistered/un-regulated activity 
• The other companies, which are not covered are the Reserve Bank of India (RBI), the Pension Funds Regulatory and Development Authority (PFRDA), the Insurance Regulatory and Development Authority of India (IRDAI), the Competition Commission of India (CCI), etc., or any company which comes under the purview of these and other regulatory bodies.

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