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Grievance redressal online, courtesy MCA
September, 12th 2006
Investors suffering a raw deal from corporates now have the option of getting their complaints redressed online. Ministry of company affairs Prem Chand Gupta recently launched a helpline which allows investors and deposit-holders to lodge complaints with regulators like the RBI, Sebi, the Registrar of Companies and the ministry itself. Investors can also track the progress online. The website developed by investor justice association Midas Touch is financed by the ministry’s Investor Education and Protection Fund. Mr Gupta said that as soon as a complaint is registered with the ‘Investor Helpline’, it would be forwarded to the company and the regulator concerned. If the company does not respond in time, the appropriate regulator would be requested to intervene. To begin with, the helpline has been given a support of Rs 30 lakh from the IEPF. Mr Gupta said this initiative is in line with the UPA government’s priority to protect the interests of investors and become a paperless entity. Now, with the e-governance initiative, it is possible for the public to verify online all public documents filed by companies.
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