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 details of action initiated against the companies on the grounds on non- redressal of investors grievances during the last three years, year/company-wise;

(d) whether a number of companies that are in default of payment of dues to the small investors are still actively trading in the stock exchanges; and

(e) if so, the details thereof and the reasons for not taking any action against them by the Government ?

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 2414 companies in 2014-15 and 89 companies in 2015-16. During the period from 1/4/2016 to 28/02/2017 action has been initiated against 189 companies.

(d) & (e) : Securities and Exchange Board of India (SEBI) under 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 2014-15 out of 3886 complaints received, 3364 were resolved, in 2015-16 out of 3296 complaints received, 2838 were resolved and in 2016 -17 (upto 28/02/2017 ) out of 2736 complaints received, 2459 were resolved.
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