(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 and if not, the 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 and the steps proposed to be taken by the Union
Government in this regard?
THE MINISTER OF STATE (INDEPENDENT CHARGE) (SHRI SACHIN PILOT) IN THE MINISTRY OF
CORPORATE AFFAIRS
(a) & (b): Yes, Madam. Investor complaints are monitored by the Ministry and field
offices. All complaints received are taken up with the concerned companies for redressal.
If a company fails to address grievances as per the provisions, suitable action is
initiated by the concerned field office. An “Investor Complaint Resolution Forum†has
been set up in each office of the Registrar of Companies for improving satisfaction
levels of investors. The meeting of the Forum is held every month, where complainants
and representatives of concerned companies discuss and resolve investor grievances.
(c) & (d): The Ministry takes prompt action against errant companies as and when
complaints are received against them. At present, action has been initiated on
complaints received against 87 companies relating to Multi Level Marketing/Ponzi Schemes.
Inspection under section 209A, investigation under section 235 and enquiry under section
234 of the Companies Act, 1956 have been ordered against these 87 companies.