Sebi Resolves 4,239 Investor Complaints via SCORES Platform in April
| 2025-05-18
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India’s market regulator Sebi addressed 4,239 investor complaints in April using its SCORES online platform, as unresolved cases edged higher.
Sebi Handles Over 4,000 Investor Grievances Through SCORES in April
The Securities and Exchange Board of India (Sebi) resolved 4,239 investor complaints in April 2025 through its web-based redressal platform, according to an official notice issued by the regulator. However, the number of pending complaints increased slightly compared to the previous month.
Sebi received 4,341 new complaints in April, bringing the total number of unresolved cases to 4,263 at the end of the month. This marked a small rise from the 4,161 complaints that remained unresolved as of 31 March.
The regulator also shared operational metrics for the month, noting that the average time taken by listed entities and registered intermediaries to submit Action Taken Reports (ATRs) was eight days. Complaints that proceeded to the First Level Review stage were typically addressed within four days, it added.
Digital Platform for Grievance Redressal
SCORES, which stands for Sebi Complaints Redress System, is an online facility that allows investors to lodge and monitor complaints against companies listed on Indian stock exchanges as well as intermediaries registered with Sebi. The platform aims to improve transparency and efficiency in grievance handling across India’s capital markets.
Launched more than a decade ago, SCORES was updated under the SCORES 2.0 framework to enable faster and more structured responses from market participants.
Under the revised process, complaints are automatically routed to the relevant company or intermediary, which is required to respond with an ATR within 21 days. If investors are unsatisfied with the response, they can request a First Level Review within 15 days of receiving the ATR.
Even during the review process, such complaints remain classified as pending in the system, regardless of whether a response has been submitted. If concerns persist, a Second Level Review can be initiated by the regulator.
Alternative Dispute Resolution Available
In addition to the formal review processes within SCORES, Sebi has highlighted the availability of an Online Dispute Resolution (ODR) mechanism as another option for resolving investor grievances. If selected, this path can also result in the closure of a complaint within the system.
The regulator has positioned the use of technology, including SCORES and ODR, as central to its investor protection framework, especially in a fast-growing financial ecosystem.
Context: Ensuring Market Accountability
Sebi, India’s capital markets regulator, oversees compliance and transparency among stock market participants, including companies, brokers, and asset managers. Addressing investor grievances in a timely manner is considered a key part of the regulator’s mandate to maintain market confidence.
India’s equity markets have seen a surge in participation from retail investors in recent years, making robust complaint mechanisms increasingly important. The SCORES platform is one of several digital tools launched by Sebi to keep pace with this growth and ensure market accountability.
According to market experts, the relatively short average response times reported in April reflect growing institutional responsiveness. However, the slight increase in unresolved complaints highlights the ongoing challenge of keeping pace with rising volumes of investor interactions.
Sebi’s performance in grievance resolution is closely watched by investors, analysts and policymakers alike as an indicator of market integrity and the effectiveness of regulatory oversight.
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