Mumbai: Capital markets regulator Sebi has imposed fines worth Rs 14 lakh on as many as eight firms in the last few days for failing to get registered with its online complaint redressal system 'SCORES' as well as not resolving investor grievances.
In separate orders, Sebi has slapped penalties on Vishal Footwear (Rs 5 lakh), Harton Networks (Rs 2 lakh) and Diamant Infrastructure (Rs 2 lakh).
Besides a penalty of Rs 1 lakh each has been imposed on Rajasthan Polyvin Tubes, Vital Communications, PSB Finance & Leasing, Secur Industries and Mefcom Agro Industries.
At the same time, the capital market regulator has disposed of similar cases against nine companies.
These companies are Rathi Steels, Fomento Resorts & Hotels, Hotel Rugby, Superhouse Leathers, Triveni Glass, SNS Properties & Leasing, Asia Refinery, Ace Exports and Ugar Sugar Works.
As per Securities and Exchange Board of India (Sebi) rules all listed companies have to get registered with the regulators online complaint redressal system SCORES and resolve complaints uploaded through this mechanism within a stipulated time.
SCORES which was launched by Sebi in June 2011 provides a centralised database of all complaints, online movement of complaints to the concerned listed companies, online upload of Action Taken Reports (ATRs) by the concerned companies.
It also helps investors view, track and follow up the actions taken on their grievance.
The online redressal system has significantly helped reduce the processing time of complaints.
