CS SONU LAKHANI AEO, ICSI

 SEBI has launched a centralized web based complaints redress system [SCORES] vide Circular CIR/OIAE/2/2011 dated for all Companies whose securities are listed on Stock Exchanges

 SEBI has mandated that companies desirous of getting their equity shares listed on the stock exchanges should also obtain authentication on SCORES, before Listing Approval is granted by stock exchange.

 Centralised database of all complaints (at  Online movement of complaints to the concerned listed companies,  Online upload of Action Taken Reports (ATRs) along with supporting documents electronically by the concerned companies (at  Online viewing by investors of actions taken on the complaint and  Current status of Complaint.

 Complaints arising out of issues that are covered under SEBI Act,  Securities Contract Regulation Act,  Depositories Act and rules and regulation made there under  Provisions that are covered under section 55A of Companies Act

 Complaints that are incomplete or not specific  Allegations without supporting documents  Offering suggestions or seeking guidance/explanation  Seeking explanation for non-trading of shares or illiquidity of shares  Not satisfied with trading price of the shares of the companies  Non-listing of shares of private offer  Disputes arising out of private agreement with companies/intermediaries

 Complaints against unlisted/delisted/wound up/liquidated/sick companies  Complaints that are sub-judice (relating to cases which are under consideration by court of law, quasi-judicial proceedings etc.)  Complaints falling under the purview of other regulatory bodies viz.RBI,IRDA, PFRDA, CCI, FMC, etc., or under the purview of other ministries viz.,MCA, etc.

Physical Record Time Consuming Problem in Tracking

 Go Green (paper saving)  Time Saving  Cost Saving and effective  Transparency  Fast  Accuracy  Cross Check of data made easy

STEP 1 Contd….

 Log on  Click on Not registered yet?  Add personal detail as under:-  Name  Address  Address of Correspondence  PAN Number  Mobile Number Contd….

 Click on “Complaint Registration” under “Investor Corner”  Add complaint detail i.e. complaint category, entity name  Attach supporting documents (in PDF format upto 1 MB) STEP 2

Contd….

Current Status

 click on “View Complaint Status” ◦ Step 1: Provide the complaint registration number ◦ Step 2: Please enter password.  a. In case of web complaint, address is password.  b. In case of physical complaints sent to SEBI, please enter the password which was communicated by SEBI in the acknowledgement letter sent to complainant  On verifying the correctness of registration number, password and security code, the current status of complaint is displayed as under: STEP 3 Current Status

 If a clarification has been sought by SEBI or the entity against which complaint is lodged, can send the reply online.  The reply can be sent by clicking on the link  “Send Reply” while viewing the status of complaint  In case, complainant is not able to send reply to clarification online, he can send it through post by providing unique registration number. STEP 4

 If complainant wants to send a reminder for earlier lodged complaint, then click on the link “Send Reminder” under “Investor Corner” on the homepage.  Provide details like Registration number, Reminder details and the security code. STEP 5

Disclaimer Clause: Views expressed in this presentation views of the author do not necessary reflect those of the Institute.