'Complaints against certain companies cannot be dealt through SCORES, despite the complaint may be against a listed entity'. Explain briefly.
CS Executive · Securities Laws and Capital Markets · PYQS · December 2022
'Complaints against certain companies cannot be dealt through SCORES, despite the complaint may be against a listed entity'. Explain briefly.
Answer & Explanation:
SCORES (SEBI Complaints Redress System) is an online platform designed to help investors lodge their complaints pertaining to the securities market against listed companies and SEBI registered intermediaries. However, certain types of complaints or complaints against specific entities cannot be dealt with through SCORES, even if the complaint is against a listed entity. These include: Complaints against companies which are unlisted/delisted, or placed on the Dissemination Board of Stock Exchange. Complaints against a sick company or a company where a moratorium order is passed in winding up / insolvency proceedings, or companies under liquidation. Complaints against companies where the name of the company is struck off from the Registrar of Companies (RoC) or a Vanishing Company as per the list published by the Ministry of Corporate Affairs (MCA), or suspended companies. Complaints that are sub-judice, i.e., relating to cases which are under consideration by a court of law, quasi-judicial proceedings, etc. Complaints against companies falling under the purview of other regulatory bodies such as the Reserve Bank of India (RBI), The Insurance Regulatory and Development Authority of India (IRDAI), the Pension Funds Regulatory and Development Authority (PFRDA), Competition Commission of India (CCI), etc., or under the purview of other ministries like MCA.
Topics: Investor Protection
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