Market regulator the Securities and Exchange Board of India on June 28 has further strengthened the investor-grievance mechanism by integrating the SEBI Complaint Redressal System (SCORES) with the online dispute resolution (ODR) mechanism. Operationalised in March, ODR platform allows investors to access Market Infrastructure Institutions (MIIs) for resolution of disputes.
By taking this step, the market regulator reduced timeline of redressal and introduced auto-routing of the complaint, provided two levels of review, and created a new portal for collection of market intelligence inputs. According to SEBI, the linking will ensure that the complainants not satisfied with the resolution provided on SCORES can approach ODR, offering them wider options to get the issue addressed.It is mostly aimed at making the entire redressal process in the securities market comprehensive by providing an end-to-end solution, the market regulator said. The scope of redressal through ODR is wide as arbitrators involved in the process can adjudicate between the parties and also pass awards. It also gives the feuding sides an opportunity to arrive at a trustworthy settlement.
Around 2,457 complaints against companies and market intermediaries were disposed of through SCORES in May. At the beginning of the month, 2,984 complaints were pending and 2,626 new were received, data provided by the market regulator said.
