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HomeNewsBSE resolves 453 investor complaints against companies in June

BSE resolves 453 investor complaints against companies in June

NEW DELHI: BSE Ltd. resolved 453 investor complaints against 196 listed companies in June. Of the complaints resolved, a majority–429–were against active companies. The remaining 24 were against suspended companies.

As per the press release, of the total complaints resolved, 31% pertained to non-receipt of corporate benefits/entitlements such as dividend, bonus, rights form, buyback letter of offer, delisting letter of offer and annual report. Another 28% complaints were about non-receipt of equity shares (demat and physical) in public/rights issue, remat, transfer, transmission, conversion / endorsement / consolidation/ splitting / duplicate certificate. 

About 24% of the resolved complaints were about issues such as non-adherence of corporate governance norms. Apart from this, there were 69 complaints on non-receipt of money – refund, interest, redemption, fractional entitlement. A few complaints were about non-receipt of interest for delay in refunds, dividend, interest on debt security, redemption of debt security, securities.

Of the suspended companies against which complaints have been filed, those with the highest number of pending complaints as of 30 June were Inceptum Enterprises Ltd. (category Z, 23 complaints), J.K.Pharmachem Ltd. (category X, 16 complaints), Classic Global Finance & Capital Ltd. (category XT, 14 complaints). The next three are Gujarat Perstorp Electronics Ltd., Teem Laboratories Ltd. and Gujarat Narmada Flyash Co. Ltd. from categories P, X and XT, respectively with 12 complaints each. The list also includes Negotium International Trade Ltd., Saptak Chem And Business Ltd., Blazon Marbles Ltd. and Gujarat Meditech Ltd. from categories XT, Z, X and Z, respectively, each with 11 pending complaints. These companies are presently suspended at BSE for surveillance reasons, non-compliance with listing regulations, procedural reasons or as per operation of law, according to the press release.

As per the press release, these complaints include those brought forward from the previous months too. BSE had received 277 complaints against 163 companies in June.

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