Question : Redressal of Investors Grievances

(a) whether the companies independent mechanism to redress investors grievances has yielded the desired results;

(b) if so, the details thereof and if not, the reaction of the Government thereto;

(c) the action initiated against the companies for non-redressal of investors grievances during the last three years and the current year; and

(d) whether a number of companies which are in default of payment of dues to the small investors are still actively trading in the stock exchanges and if so, the details thereof along with the action taken by the Government thereon?

THE MINISTER OF STATE (SHRI ARJUN RAM MEGHWAL)
IN THE MINISTRY OF CORPORATE AFFAIRS

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(a)& (b) (c) : As per the investors’ grievances data maintained by the Ministry of Corporate Affairs, action has been initiated against 420 companies in 2013-14, 2414 companies in 2014-15 and 89 companies in 2015-16. During the period from 1/4/2016 to 31/10/2016 action has been initiated against 120 companies.

(d) The Department of Economic Affairs has stated that trading of scrips is not immediately suspended on receipt of an investor complaint for non-payment of dues to investors by listed companies. During the period 2013-14 out of 5005 complaints received, 4184 were resolved, in 2014-15 out of 3886 complaints received, 3364 were resolved , in 2016-17 out of 3296 complaints received, 2838 were resolved and in 2016 -17 (upto 31st October, 2016 out of 1907 complaints received, 1522 were resolved.

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