The Ministry of
Corporate Affairs has initiated action against 49 companies in 2010-11, 39
companies in 2011-12 and 78 companies in 2012-13 based on investors’
grievances. Giving this information in written reply to a question in the Rajya
Sabha recently, Shri Sachin Pilot, Minister of Corporate Affairs, said that
Securities and Exchange Board of India (SEBI) also initiates action for
redressing complaints of non-payment of dividend/ interest on listed securities,
pertaining to companies listed with stock exchanges. Companies which fail to
pay dividend face action under sections 11B/15C of the SEBI Act, 1992. Details
of action taken for non-redressal of investor grievances year-wise, during the
last three years in respect of such companies are as follows:
Financial Year
|
Number of Cases where
|
|
Action taken under Section 11
|
Adjudication
|
|
2010-11
|
18
|
03
|
2011-12
|
11
|
06
|
2012-13
|
04
|
10
|
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