Investor complaints: Sebi slaps fines on 8 firms

Capital markets regulator Sebi has imposed fines worth Rs 1400000 on as many as eight firms in the last few days for failing to get registered with its online complaint redressal system 'SCORES' as well as not resolving investor grievances.Besides a penalty of Rs 100000 each has been imposed on Rajasthan Polyvin Tubes, Vital Communications , PSB Finance and Leasing, Secur Industries and Mefcom Agro Industries.These companies are Rathi Steels, Fomento Resorts and Hotels, Hotel Rugby , Superhouse Leathers, Triveni Glass , SNS Properties and Leasing, Asia Refinery, Ace Exports and Ugar Sugar Works As per Securities and Exchange Board of India (Sebi) rules all listed companies have to get registered with the regulators online complaint redressal system SCORES and resolve complaints uploaded through this mechanism within a stipulated time.SCORES which was launched by Sebi in June 2011 provides a centralised database of all complaints, online movement of complaints to the concerned listed companies, online upload of Action Taken Reports (ATRs) by the concerned companies.It also helps investors view, track and follow up the actions taken on their grievance.The online redressal system has significantly helped reduce the processing time of complaints.