How to file SEBI SCORES complaint?
For any issue related to the securities market, file complaint in scores.gov.in website
Intro ๐
As an investor, you've certain rights, and market participants (AMC / RTA / broker / depository / advisor / distributor etc.) have to make sure your rights are not violated.
Indian securities markets are highly regulated. And if you're not satisfied with resolution of an ongoing issue with your broker or AMC you're investing with; you can approach SEBI (Securities and Exchange Board of India) to hear you out.
For any grievance related to the securities market, with a listed company/ intermediary registered with SEBI you can file a complaint with SEBI if you are not satisfied with the response from the party.
What is an intermediary in this context?
Examples of Intermediary
Depository & Depository Participant
Mutual Fund house
Investment Advisor
Institutional Investor
Broadly speaking, SEBI takes up complaints related to
Issue and transfer of securities (e.g. listing not visible after purchase)
Non-payment of dividend with listed companies
Against the various intermediaries registered with it and related issues (e.g. Mutual fund house not allowing cancellation of SIP)
You can file the complaint in the online platform called SCORES provided by SEBI and track its status.
How to register a complaint ๐ฉ๐ฝโ๐ซ
Below are the steps to raise a complaint provided the issue had happened in the last 3 years
Register account in the SCORES portal: https://scores.gov.in/scores/Welcome.html
After login, go to Investor Corner -> Complaint Registration
Provide details like name of entity, nature of complaint and category like Mutual Fund, Broker, Portfolio Manager etc.
Detail the complaint in less than 1000 words and attach any proof in PDF format if you have.
You will receive an acknowledgment after submitting. An email and SMS also will be sent to acknowledge the same.
A response will be given to the complainant with in 30 days.
Category List
Listed Companies, Registrar & Transfer Agents, Non-Demat & Remat
Brokers, Stock Exchanges
Stock Broker
Portfolio Manager
Stock Exchanges
Commodity Exchanges
Depository Participants, Depository
Other Entities
Collective Investment Schemes
Merchant bankers
Debenture Trustee
Bankers to an issue
Credit Rating agencies
Custodian of securities
Underwriters
Venture Capital funds
KRA (KYC Registration Agency)
Alternative Investment Fund
InvITs (Infrastructure Investment Funds)
REITs (Real Estate Investment Trusts)
Manipulation
Price/Market manipulation
Insider trading
Complaints pertaining to commodity derivative
Investment Advisor, Research Analyst
Fake and Forged
If you havenโt registered the complaint to the relevant entity before escalating it to SEBI, they will redirect the complaint to the concerned entity and you will receive a reply in 30 days.
If you want to file a complaint against a company which is about to be listed, select โPre-listing / Offer documentโ under complaint category.
See SEBI Circular: SEBI/HO/OIAE/IGRD/CIR/P/2018/58 for more details and flow chart.
Wrapping Up
Based on our experience, possibly the hardest part in registering a complaint on SCORES is to find which category the market participant belongs to.
If you already have this information it's quite straight-forward to file this complaint.
We have table below, which should help with filing complaint against common popular entities
Name of the Entity | Category | Official Name |
---|---|---|
5Paisa | Stock Broker | 5Paisa Capital Limited--NSE |
CAMS | Registrar & Transfer Agents | COMPUTER AGE MANAGEMENT SERVICES LTD |
Coin by Zerodha | Stock Broker | ZERODHA BROKING LIMITED--BSE |
ETMoney | Investment Advisor | |
Groww | Stock Broker | NEXTBILLION TECHNOLOGY PRIVATE LIMITED--BSE |
INDMoney / INDWealth | Investment Advisor | Finzoom Investment Advisors Pvt. Ltd. |
KFinTech | Registrar & Transfer Agents | KFIN TECHNOLOGIES PVT LTD (Formerly KARVY COMPUTERSHARE PRIVATE LIMITED (KARVY CONSUL LTD)) |
Kuvera | Investment Advisor | AREVUK ADVISORY SERVICES PVT. LTD. |
MFUtility | Registrars & Transfer Agents | MF UTILITIES INDIA PVT. LTD. |
Mobikiwik Money | Investment Advisor | HARVEST FINTECH PRIVATE LIMITED |
Niyo Money / Goalwise | Investment Advisor | ALPHAFRONT FINSERV PRIVATE LIMITED |
PayTM Money | Investment Advisor | PayTM Money Limited |
PayTM Money (Equity) | Stock Broker | PAYTM MONEY LIMITED--BSE |
Smallcase | Research Analyst | Windmill Capital Private Limited |
Upstox | Stock Broker | RKSV Securities India Private Limited--BSE |
Some of the names in the 3rd column are uncharacteristically capitalized, but that's only because these are lifted as is from SCORES portal, without any modification.
This is by no means an exhaustive list; and the registration can change / get defunct / recategorized at the time of reading this.
However, most of these should help you file a complaint against one of these popular entities.
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