March 6, 2002
‘7’
SETTLING INVESTORS COMPLAINTS
The Investors Protection Cell in the Department of Company Affairs (DCA) settled 1348 complaints of investors last year from January to December, 2001. A total of 7230 complaints from various investors were received. Out of which, 5882 complaints have been taken up with the concerned companies and Registrar of Companies. These complaints were yet to be settled.
The Investors Protection Cell deals primarily with complaints relating to non-receipt of shares/ debentures certificates after allotment/transfer, refund of share/ debenture application money, non-receipt of dividend/interest warrants and non-payment of dividend. All such complaints are acknowledged and taken up with the concerned companies for prompt redressal.
However, in case of listed public companies and those public companies which intend to get their securities listed on any recognized Stock Exchange of India, powers have been vested with Securities and Exchange Board of India (SEBI) with effect from December 13, 2000 under Section 55A of the Companies Act.