Question : INVESTORS` COMPLAINTS

(a) whether action is taken on all cases for which action was contemplated by the Government for the disposal of investor complaints;

(b) if so, the details thereof along with the manner in which investor grievances are resolved and if not, reasons therefor;

(c) whether the illegal activities of the erring companies are not controlled due to delay in taking action and the laws enacted by the Government are not being adhered to properly; and

(d) if so, the details thereof indicating the number of companies against whom action have been initiated so far and the steps taken/proposed to be taken by the Government in this regard?

THE MINISTER OF CORPORATE AFFAIRS (SHRI ARUN JAITLEY)

(a)& (b): Investor complaints received in the Ministry and its field offices are forwarded to the concerned companies for remedial action. In case the company fails to redress the grievance of the complainant and/ or is found to be in violation of the provisions of the Companies Act, suitable action under the provisions of the Companies Act 2013/1956 is initiated. Further, in the meetings of the ‘Investor Complaint Resolution Forum’ held in offices of Registrar of Companies from time to time, complainants and representatives of companies meet and discuss to resolve investor grievances.

(c) & (d): On receiving information about the alleged illegal activities of companies, inspections and investigations are carried out. In the financial year 2014-15, over 5800 prosecutions have been filed. In addition, 86 prosecution complaints were filed before various Courts/Authorities by the Serious Fraud Investigation Office in the same period.