Date: 2020-10-22Category: Not ApplicableState: Union GovernmentCountry: India
Clarification on SEBI Circular SEBI/HO/OIAE/IGRD/CIR/P/2020/152 dated 13 August, 2020 on Investor grievances redressal mechanism – Handling of SCORES complaints by stock exchanges and Standard Operating Procedure for non-redressal of grievances by listed companies.
**Summary:**
This circular, reference number SEBI/HO/OIAE/IGRD/CIR/P/2020/208, issued by the Securities and Exchange Board of India (SEBI) on October 22, 2020, provides clarification regarding SEBI Circular SEBI/HO/OIAE/IGRD/CIR/P/2020/152 dated August 13, 2020. The original circular pertains to the investor grievance redressal mechanism, specifically the handling of SCORES complaints by stock exchanges and the Standard Operating Procedure (SOP) for non-redressal of grievances by listed companies. This clarifying circular amends Paras 16, 27, 32, and Point 2(c) of Annexure 1 of the August 13, 2020 circular, replacing the terms "promoter and promoter group" and "promoter/promoter group" with "promoters." This circular is issued under Section 11(1) of the Securities and Exchange Board of India Act, 1992, to protect investor interests, promote the development of the securities market, and regulate the securities market. The circular is accessible on the SEBI website (www.sebi.gov.in) under the Legal/Circulars category. For further information, contact Medha Sonparote, General Manager, Investor Grievance Redressal Division, Office of Investor Assistance and Education, at 022-26449312 or via email at medhad@sebi.gov.in.
Key Entities Referenced
Securities and Exchange Board of India (SEBI): A regulatory body for the securities market in India.
SEBI Circular SEBIHOOIAEIGRDCIRP2020152: A circular issued by SEBI on August 13, 2020, regarding investor grievance redressal mechanisms.
SCORES: An online platform for handling complaints related to investor grievances.
Stock Exchanges: SEBI recognized Stock Exchanges where companies' securities are listed.
Depositories: Organizations that hold securities in electronic form.
Investor Associations: Groups that represent the interests of investors.
Securities and Exchange Board of India Act, 1992: The act of parliament that established SEBI and defines its powers.
Medha Sonparote: General Manager, Investor Grievance Redressal Division, Office of Investor Assistance and Education at SEBI.
CIRCULAR
SEBI/HO/OIAE/IGRD/CIR/P/2020/208
22 October, 2020
To,
All companies whose securities are listed on SEBI recognized Stock Exchanges
(through Stock Exchanges)
All Recognized Stock Exchanges
All Depositories
All Investor Associations
Dear Sir/ Madam,
Sub: Clarification on SEBI Circular SEBI/HO/OIAE/IGRD/CIR/P/2020/152 dated 13
August, 2020 on Investor grievances redressal mechanism – Handling of
SCORES complaints by stock exchanges and Standard Operating Procedure for
non-redressal of grievances by listed companies.
1. SEBI Issued a Circular SEBI/HO/OIAE/IGRD/CIR/P/2020/152 dated 13 August,
2020 on Investor grievances redressal mechanism – Handling of SCORES
complaints by stock exchanges and Standard Operating Procedure for non-
redressal of grievances by listed companies.
2. In respect of Paras 16, 27, 32 and Point 2c of Annexure -1 to the said circular,
please read the words “promoter and promoter group” and “promoter/promoter
group” as “promoter(s)”.
3. This Circular is issued in exercise of powers conferred under Section 11(1) of the
Securities and Exchange Board of India Act, 1992 to protect the interests of investors
in securities and to promote the development of, and to regulate the securities market.
4. This circular is available on SEBI website at www.sebi.gov.in under the category
“Legal→Circulars”.
Yours faithfully,
Medha Sonparote
General Manager
Investor Grievance Redressal Division
Office of Investor Assistance and Education
Tel No. 022 26449312
Email id - medhad@sebi.gov.in