Mumbai: Capital market regulator Sebi today disposed of the case against Sterlite Technologies regarding failure by the firm to redress the investor complaints within the stipulated time.
Securities and Exchange Board of India (Sebi) said that the charges against the company "could not be established".
"...In few cases the noticee (Sterlite Technologies) could not redress the complaints within stipulated time as it did not receive the requisite information from the complainants inspite of repeated reminders," Sebi said.
Sebi had observed that as on January, 2013, 8 investor grievances were pending against Sterlite on the regulator's online redressal system SCORES.
The market regulator had directed the firm to take necessary steps to resolve the complaints within 30 days and submit the Action Taken Report (ATR) for the same.
SCORES provides a centralised database of all complaints, online movement of complaints to the concerned listed firms, online upload of Action Taken Reports (ATRs) by the concerned companies. It also helps investors view, track and follow up the actions taken on their grievance.