This SEBI (Securities and Exchange Board of India) circular (SEBIHOOIAEIGRDCIRP2021642) issued on October 14, 2021, streamlines the process for companies intending to list their securities on SEBI-recognized stock exchanges to obtain SCORES (SEBI Complaint Redress System) credentials. Previously, companies were required to submit Form A physically and via email to scores@sebi.gov.in, as per Circular No. CIROIAE12014 dated December 18, 2014. This requirement is now discontinued.
The circular introduces an online mechanism for obtaining SCORES credentials, accessible through the SCORES website (www.scores.gov.in). Companies must submit a declaration on their letterhead, signed by the Compliance Officer. The declaration should confirm submission of the DRHP (Draft Red Herring Prospectus) with SEBI for Main Board listings, or confirm application/in-principle approval for listing on the SME/Debt Platform.
SCORES credentials will be sent to the Compliance Officer/Dealing Officer's email address provided in the online form. This initiative aligns with SEBI's green initiative and aims to enhance investor grievance redressal before listing. An instruction document accompanies the online form.
The circular is issued under Section 11(1) of the Securities and Exchange Board of India Act, 1992. For further information, contact A. Vijayan, Deputy General Manager, Investor Grievance Redressal Division, Office of Investor Assistance and Education, at 022-26449631 or vijayan@sebi.gov.in.
Key Entities Referenced
SEBI: Securities and Exchange Board of India, the regulatory body.
Stock Exchanges: SEBI recognized Stock Exchanges where companies intend to list their securities.
Merchant Bankers: SEBI registered Merchant Bankers involved in the listing process.
SCORES: SCORES (not expanded in document), an online system for redressal of investor grievances.
SEBI Circular No. CIROIAE12014 dated December 18, 2014: A previous SEBI circular regarding sending details to obtain SCORES user ID and password.
FormA: A form mentioned in the SEBI circular CIROIAE12014 that listed companies used to submit.
FormB: A form mentioned in the SEBI circular CIROIAE12014 that intermediaries used to submit.
Securities and Exchange Board of India Act, 1992: The act under which the circular is issued, conferring powers to protect investor interests and regulate the securities market.
CIRCULAR
SEBI/HO/OIAE/IGRD/CIR/P/2021/642
October 14, 2021
To
All Companies who are intending to list their securities on SEBI recognized
Stock Exchanges (through SEBI registered Merchant Bankers)
All recognized Stock Exchanges
All registered Merchant Bankers
Dear Sir/Madam,
Sub: Streamlining issuance of SCORES Authentication for companies intending
to list their securities on SEBI recognized stock exchanges
1. Please refer to SEBI Circular No. CIR/OIAE/1/2014 dated December 18, 2014
where-in SEBI had directed all listed companies and SEBI registered
intermediaries (excluding Stock Brokers and Depository Participants) to send their
details as per Form-A and Form-B respectively, annexed to the said Circular, to
SEBI in hard copy and by email to scores@sebi.gov.in in order to obtain SCORES
user id and password for redressing investor grievances on SCORES.
2. In partial modification to the above circular, a circular dated August 02, 2019 was
issued, automating the generation of SCORES credentials for all new SEBI
registered intermediaries (except brokers and depositories) and thereby
dispensing with the requirement of sending Form-B to SEBI.
3. It has now been decided to introduce an online mechanism for obtaining SCORES
credentials for all “companies intending to list their securities on SEBI recognized
stock exchanges”. The online form can be accessed on the SCORES website
www.scores.gov.in . This has been done as part of SEBI’s green initiative and to
streamline the redressal of investor grievances against companies before listing.
4. Companies shall attach a declaration, with the online form, on the letter head of
the company signed by the Compliance Officer, as under
a. Companies intending to list on Main Board: A Declaration that the DRHP has
been submitted with SEBI.
b. Companies intending to list on SME/Debt Platform of stock exchange: A
Declaration that an application to list its securities has been submitted with the
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from the stock exchange.
5. The SCORES credentials shall be sent to the e-mail id of the Compliance
Officer/Dealing Officer as provided in the online form.
6. In view of the same, companies are no longer required to submit physical copy of
Form-A or e-mail the same to SEBI, as provided in Circular No. CIR/OIAE/1/2014
dated December 18, 2014.
7. An Instruction document has been provided with the Online Form. Companies are
encouraged to go through the Instruction document before filling up and submitting
the online form.
8. 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.
Yours faithfully,
A. Vijayan
Deputy General Manager
Investor Grievance Redressal Division
Office of Investor Assistance and Education
Tel No. 022 26449631
Email id - vijayan@sebi.gov.in
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