INVESTOR GRIEVANCES
The grievance letters received by SEBI from investors have been categorised as under:
Type I : Non-receipt of refund orders/ allotment letters/ stock invest.
Type II : Non-receipt of dividend.
Type III : Non-receipt of share certificates/bonus shares.
Type IV : Non-receipt of debenture certificates/interest on debentures/redemption amount of debentures/interest on delayed payment of interest on debentures/redemption amount of debentures.
Type V : Non-receipt of Annual reports, right forms, /interest on delayed receipt of refund order/dividend.
Type VI : Complaints related to plantation schemes etc.
Break-Up Of Grievances Received And Resolved During The Month of January 1999
|
January 1 To 15, 1999 |
January 16 to 31, 1999 |
|||
|
Type |
Grievances Received |
Grievances Resolved |
Grievances Received |
Grievances Resolved |
|
I |
108 |
72 |
120 |
73 |
|
II |
427 |
368 |
605 |
311 |
|
III |
1001 |
679 |
1385 |
880 |
|
IV |
495 |
435 |
776 |
231 |
|
V |
337 |
203 |
418 |
207 |
|
VI |
292 |
2 |
211 |
3 |
|
Total |
2660 |
1759 |
3515 |
1705 |
During January 1 to January 15, 1999, SEBI received 2660 grievances against 803 companies. In the same period 1759 grievances were reported resolved by 291 companies. These resolved grievances include grievances brought forward from the previous periods. During
January 16 to January 31, 1999, SEBI received 3515 grievances against 977 companies. In the same period 1705 grievances were reported resolved by 338 companies. These resolved grievances include grievances brought forward from the previous periods.
|
Name Of The Company |
Times Appeared |
Complts Recd Upto 15.1.99 |
Complts Rslvd Upto 15.1.99 |
Complts Pending |
Redressal ( % )
|
|
Mahadev Corporation Ltd. |
31 |
2536 |
157 |
2379 |
6.00 |
|
Motorol India Ltd. |
31 |
3950 |
552 |
3398 |
13.97 |
|
J.F. Laboratories Ltd |
7 |
1576 |
522 |
1054 |
33.12 |
|
Western Paques (I) Ltd |
15 |
3912 |
1318 |
2594 |
33.69 |
|
Meher Dairy Ltd |
7 |
6346 |
2439 |
3907 |
38.00 |
|
Name Of The Company |
Times Appeared |
Complts Recd Upto 31.1.99 |
Complts Rslvd Upto 31.1.99 |
Complts Pending |
Redressal ( % )
|
|
Mahadev Corporation Ltd. |
32 |
2546 |
157 |
2389 |
6.00% |
|
Motorol India Ltd. |
32 |
4029 |
552 |
3477 |
13.70% |
|
J.F. Laboratories Ltd |
8 |
1584 |
522 |
1062 |
32.95% |
|
Western Paques (I) Ltd |
16 |
3927 |
1319 |
2608 |
33.58% |
|
Meher Dairy Ltd |
8 |
6381 |
2439 |
3942 |
38.00% |
It would be seen from tables above that redressal rate has been by and large low in the companies. It would be seen that the redressal rate of Madhav Corp. was just 6 per cent. The highest redressal rate has been at 38 per cent during January 1999.