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 that have been resolved, the majority – 429 – are against active companies. The remaining 24 are against the suspended companies.

According to the press release, of the total number of resolved complaints, 31% related to not receiving company benefits/benefits such as dividends, bonuses, rights forms, acquisition offers , solicitation letter and annual report. Another 28% of complaints are about not receiving equity shares (demat and physical) in public issue/rights, remat, transfer, transmission, conversion/endorsement/consolidation/split/ copy certificate.

Approximately 24% of complaints resolved were on issues such as non-compliance with corporate governance standards. In addition, there were 69 complaints about non-receipt – refund, interest, refund, split benefits. Some complain about not receiving interest due to late repayment, dividends, interest on debt security, redemption of debt securities, securities.

Among the suspended companies for which complaints have been filed, those with the highest number of pending complaints as of June 30 are Inceptum Enterprises Ltd. (category Z, 23 complaints), JKPharmachem Ltd. (category X, 16 complaints), Classic Global Finance & Capital Ltd. (type XT, 14 complaints). The next three companies are Gujarat Perstorp Electronics Ltd., Teem Laboratories Ltd. and Gujarat Narmada Flyash Co. Ltd. from categories P, X and XT, corresponding to 12 complaints. 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 claims. These companies are currently suspended by the BSE for supervisory reasons, non-compliance with listing regulations, procedural reasons or operational reasons, according to the press release.

According to the press release, these complaints include those made months ago. BSE received 277 complaints against 163 companies in June.

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