Redressal of Investors’ Complaints

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IndiaCSR News Network

NEW DELHI: Investor complaints received in the Ministry and its field offices are forwarded to the concerned companies for remedial action. In case the company fails to redress the grievance of the complainant and/ or is found to be in violation of the provisions of the Companies Act, suitable action under the provisions of the Companies Act 2013/1956 is initiated.

Further, in the meetings of the ‘Investor Complaint Resolution Forum’ held in offices of Registrar of Companies from time to time, complainants and representatives of companies meet and discuss to resolve investor grievances.

On receiving information about the alleged illegal activities of companies, inspections and investigations are carried out. In the financial year 2014-15, over 5800 prosecutions have been filed. In addition, 86 prosecution complaints were filed before various Courts/Authorities by the Serious Fraud Investigation Office in the same period.

This information was given by Arun Jaitley, Minister of Corporate Affairs in written reply to a question in the Lok Sabha today.

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