Chapter 29: SEBI Complaints Redress System (SCORES)
The SEBI Complaints Redress System (SCORES) is a centralized, web-based grievance redressal platform launched by SEBI to assist investors in lodging, tracking, and resolving complaints against registered capital market intermediaries and listed companies.
Prior to SCORES, investors had to submit physical complaints through paper mail to diverse regional offices and companies. Tracking resolution progress was difficult, and accountability was weak.
SCORES provides a transparent, paperless, and time-bound digital grievance workflow. Investors can lodge complaints 24/7 via the web portal (scores.sebi.gov.in) or the official SCORES mobile application on iOS and Android. Every complaint generates a Unique Complaint Registration Number, allowing the investor to track resolution status in real time.
To expedite dispute resolution and eliminate procedural bottlenecks, SEBI introduced SCORES 2.0, introducing several institutional enhancements:
Key Operational Features of SCORES 2.0
- Automated Direct Routing: Complaints are automatically routed directly to the concerned entity (broker, depository participant, listed company, or AMC) without manual administrative delays.
- Mandatory 21-Day Resolution Deadline: The concerned intermediary or company is legally obligated to address the grievance and submit an official Action Taken Report (ATR) within 21 calendar days from receipt of the complaint.
- Automated Escalation Mechanism: If the entity fails to submit an ATR within the mandated 21-day window, the complaint automatically escalates to the designated oversight body for regulatory enforcement.
If an investor is dissatisfied with the resolution provided by the entity, SCORES 2.0 provides a structured, multi-tier appellate pathway:
1. First Review (Designated Body Review)
- Within 15 calendar days of the entity submitting its ATR, the investor can request a review if unsatisfied.
- The complaint is reviewed by the designated oversight institution—such as the Stock Exchange (for brokers) or the Depository (for DPs).
- The designated body examines the case, calls for explanations, and issues a binding resolution directive within 10 working days.
2. Second Review (SEBI Oversight)
- If the investor remains aggrieved following the designated body's review, they can escalate the matter for a Second Review by SEBI officials, who assess regulatory compliance and enforce remedial actions.
3. Direct Linkage to SMART ODR
If the grievance involves a commercial dispute, financial claim, or breach of contractual obligation that cannot be resolved through conciliation, SCORES 2.0 provides an automated, one-click escalation link to the SMART ODR (Online Dispute Resolution) platform for independent mediation and arbitration.