Market regulator Securities and Exchange Board of India has disposed of a case against Tata Motors Ltd. related to alleged non-redressal of investor complaints.
After noting that Tata Motors had redressed the grievance of the complainants, SEBI said in an order that the charge of non-redressal of grievance “does not stand established” against the firm.
It was alleged that the company had merely filed action taken report (ATR) in the SEBI Complaints Redressal System (SCORES) with regard to two pending investor complaints and failed to take appropriate steps for their redressal.
The main grievance of the two complainants related to non-receipt of interest in 1990 on the debentures held by them of Tata Engineering and Locomotive Company (TELCO), later re- christened as Tata Motors.
As carried in bq on 6/9/2017