SEBI clarifications regarding Redressal of investor grievances through the SEBI Complaint Redressal (SCORES) Platform and linking it to Online Dispute Resolution platform
All Entities shall review the investors’ grievances redressal mechanism from time to time to further strengthen it and rectify the existing shortcomings. All Entities who are in receipt of the complaints of the investors (“Complaint”) through SCORES, shall resolve the complaint within 21 calendar days of receipt of such Complaint.
22nd SEBI Board meeting Report
SEBI approved amendments to streamline the process of handling unclaimed amounts of investors in listed entities (excluding companies, REITs, and InvITs) and facilitating refunds from the Investor Protection and Education Fund (IPEF).
Ministry of Railways revises the process of ex-gratia relief payment to the dependents of dead and injured passengers involved in Train Accidents and Untoward Incidents
Ministry of Railways has decided to revise the procedure of payment of ex-gratia relief to the dependents of dead and injured passengers involved in Train Accidents and Untoward Incidents as defined under Section 123 read with Section 124 and 124-A of the Railways Act, 1989 and to the road users who met with an accident due to Railway’s prima facie liability at Manned Level Crossing Gate Accident.
IBBI (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2023
To expedite the resolution process and reduce delays, the amended regulations extend the timeline for creditors to submit claims. Creditors now have 90 days from the insolvency commencement date or the date of the latest request for resolution plans (RFRP) issuance, whichever is later, to submit their claims. Additionally, creditors making claims after this period must provide reasons for the delay, and the RP must explain why they didn’t include such claims earlier. This amendment aims to reduce the burden on the adjudicating authority (AA) and minimize uncertainties.
