Can an investor raise a complaint for no response?

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Hi, I have been writing to and calling the management / investor relations of a company I am invested in (Lypsa Gems and Jewellery Limited) but with no response. As a retail investor what are my options to raise a complaint with the regulator ? I came across SEBI Scores webpage, but that does not seem to provide an option to create a new login and raise a complaint. Any suggestions would be welcome

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Ashwin - thanks for posting the question. I have the same experience on another microcap. Hope that someone on this forum can share hoe to elicit a response.

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Hi…I also share the same concern…every quarter I understand the company submit shareholders complaints and griveance. Not sure how to bring out complaint there.may be we need to include some SEBI email id in the mail we sent to company

Will check it out.

Rgds
Ram

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https://www.sebi.gov.in/department/investment-management-department-9/investor-complaints-cell-123/overview.html. in the initial screen you will see a picture of someone typing on a keyboard. Click on it. You will be taken to a form that needs to be filled.

Please read this economic times article for more info https://m.economictimes.com/markets/stocks/policy/how-to-approach-sebi-with-your-complaint/articleshow/16408747.cms.

I did read a moneylife article that was very critical of this scores process. Given the nature of “investor protection” in India would request that you keep your expectations Low. You might be pleasantly surprised then.

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Thanks so much Shivram. Very helpful, will give it a shot :slight_smile:

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Did any one tried to lodge the complain when a company is not responding to Investor’s question? Whether it was resolved after complaining?

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Most management company secretaries are busy
If you threaten them that you will complain to bse they tend to answe faster than actually going via bse
Everyone is busy and people sometimes do deserve second, third or more chances
Patience is a good virtue to have when investing in stocks

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Thanks for your response. Yes I agree that we should give enough time & 2-3 chances to response.
But what I am concern is that if after giving enough time & 2-3 chances, If we complain to SEBI does it get resolved?
I was trying to lodge a complain to SEBI - SCORE website but after registration the Complain Form is not getting open. Does any one had faced this problem & how I can resolve that?

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May be try to change your browser… Try Internet Explorer (not edge)…

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I have tried Internet Explorer & Chrome both. But still same issue.

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I am also having same issue with the company recently listed named Sona Machinery Limited. I have given this query to company secretary but no response. Don’t know what to do? Can anybody help?

Ms. Supriya Shishodia
Company Secretary
Sona Machinery Limited
F-16 & C-1, Sector A-3, Tronica City, Loni
Ghaziabad, U.P.
India 201102

Subject: Request for Clarification on Conflict of Interest Regarding Mr. Vasu Naren’s Shareholding in CAN Engineering Solutions Pvt Ltd

Dear Ms. Shishodia,

I hope this message finds you well. I am writing to seek clarification regarding a potential conflict of interest involving Mr. Vasu Naren, who serves as the Managing Director and Chairman of Sona Machinery Limited.

It has come to my attention that Mr. Vasu Naren holds a 50% stake in CAN Engineering Solutions Pvt Ltd. I am interested in understanding whether the remaining 50% shares in CAN Engineering Solutions Pvt Ltd are held by Sona Machinery Limited or by another entity.

Could you please provide clarification on the following points:

  1. The ownership structure of CAN Engineering Solutions Pvt Ltd, specifically regarding the ownership of the remaining 50% shares.
  2. Any measures taken by Sona Machinery Limited to address or mitigate any potential conflicts of interest arising from Mr. Vasu Naren’s involvement in CAN Engineering Solutions Pvt Ltd.
  3. Whether CAN Engineering Solutions Pvt Ltd is engaged in a similar business as Sona Machinery Limited, which according to my understanding, may cause a conflict of interest.

I appreciate your prompt attention to this matter. Please feel free to contact me at 9608008051 or rajeshaaidu@gmail.com if further information is required. I look forward to your response.

Thank you for your assistance.

Yours sincerely,

Rajesh Kumar

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Both the queries can be resolved. Please get financials from MCA portal only Rs 120 to be spent

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After mailing them wait for a week.
Mail them again if no response. Wait for another week.

Lodge a complaint on scores. Attach the screenshots of you mail and whatever else information you are asked.

Within 15-30 days you’ll receive your answer. I’ve done it few times with Reliance Industries

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Thank you for your suggestion!
I have received this reply from the company side. I have decided to stay away from this company as I am not convinced with their response. However, forum member should do their do diligence before taking any decision. I am posting their response for the benefit of the forum members.

Dear Mr. Kumar,

I hope this email finds you well.

I am writing this in response to your email dated June 18, 2024, regarding a potential conflict of interest involving Mr. Vasu Naren, Managing Director and Chairman of Sona Machinery Limited, and his shareholding in CAN Engineering Solutions Pvt Ltd.

I would like to address your queries as follows:

  1. Ownership Structure of CAN Engineering Solutions Pvt Ltd:

The remaining 50% shares in CAN Engineering Solutions Pvt Ltd are not held by Sona Machinery Limited. They are held by an independent individual unrelated to Sona Machinery Limited. This structure ensures that there is no direct overlap in ownership between Sona Machinery Limited and CAN Engineering Solutions Pvt Ltd.

  1. Measures to Address Potential Conflicts of Interest:

We are committed to upholding the highest standards of corporate governance and ethical business practices. Mr. Vasu Naren’s involvement in CAN Engineering Solutions Pvt Ltd is closely monitored to ensure that his duties and responsibilities at Sona Machinery Limited are not compromised. Sona Machinery Limited aims to maintain transparency and fairness in our operations.

  1. Current Business Status of CAN Engineering Solutions Pvt Ltd:

CAN Engineering Solutions Pvt Ltd is currently not engaged in any business activities and does not have plans to take up any new business in the foreseeable future. This ensures that there is no direct competition or conflict of interest between CAN Engineering Solutions Pvt Ltd and Sona Machinery Limited.

We appreciate your concern and are committed to maintaining the highest standards of corporate governance.

Should you have any further questions or require additional information, please do not hesitate to contact me at cs@sonamachinery.com or call at +91-8448984368.

Thank you for bringing this matter to our attention.

Regards,

Supriya