Quick Summary
If a listed company has failed you, unpaid dividends, shares not allotted after an IPO, a delayed listing, or misleading disclosures, you have a right to complain to SEBI. Unlike disputes with a broker or advisory, these are shareholder grievances against the company itself. SEBI handles them through its SCORES platform, and the process turns on one thing: the right complaint format, backed by proof. This page walks you through exactly when you can complain against a listed company, the format to use, and what happens after you file.
Have you invested in a listed company that never credited your dividends, delayed its listing, misled shareholders with false promises, or looked like it was running a pump-and-dump?
If so, you are not stuck with it.
As a shareholder, you have a clear right to complain to SEBI against that company.
The catch is that a company-level complaint works differently from a dispute with a broker or advisory, and getting the format and the grounds right is what decides whether SEBI acts.
Let us walk through how to do it properly.
When Can You Complain to SEBI Against a Listed Company?
Not every frustration with a company is something SEBI will take up, so the first step is knowing which grievances actually fall within its reach.
The complaints SEBI acts on against a listed company tend to fall into a few clear buckets: money you were owed and never got, shares or listings that never came through, and outright misrepresentation or silence from the company.
If your problem looks like one of the following, you are on solid ground:
- Non-payment of dividends or interest on bonds you are owed.
- Non-receipt of shares after an IPO or a bonus issue.
- Delays in listing after an IPO or rights issue.
- A fraudulent prospectus or misrepresentation to investors.
- Misuse of public funds by the listed company.
- The company simply ignoring your grievance and failing to respond.
If your problem sits in this list, you have solid grounds. These are company-level wrongs, different from a broker’s or advisory’s misconduct, and SEBI has a specific route for them.
If your issue is instead with a broker or advisory, our broader guide on how to complaint in SEBI covers those routes.
How to Write a Complaint to SEBI Against a Company?
With a listed-company complaint, the format matters more than people expect.
A vague grievance gets a vague response; a precise, evidence-backed one gets acted on.
So it helps to structure your complaint clearly before you file.
A strong complaint against a company should include:
- Subject: a one-line summary, for example, “Complaint regarding non-receipt of dividends from [Company Name].”
- Investor details: your name, PAN, and demat ID.
- Nature of the complaint: a clear, factual account, such as “I applied for X shares in the IPO dated ____, the funds were debited, but the shares were never allotted.”
- Evidence attached: IPO acknowledgment, demat statement, bank debit proof, and any screenshots.
- Relief sought: exactly what you want, credit of the dividend, allotment of shares, or a refund of your application money.
Spelling out the relief you want is the part most investors skip, and it is the part that tells SEBI what a good outcome looks like.
The clearer your ask, the easier it is for SEBI to direct the company to fix it.
How to File the Complaint on SCORES?
Once your complaint is drafted, you file it through SEBI’s official grievance platform, SCORES, the same portal used for all SEBI-regulated entities.
In short, you complete your SEBI SCORES portal registration, select the listed company you are complaining against, enter your grievance and the relief you want, and attach your evidence.
Choose the “listed company” category carefully when you file, since selecting the wrong entity type is one of the most common reasons a complaint gets misrouted and delayed.
How Long Does SEBI Take to Respond?
Filing is only the start. Knowing what follows tells you when to wait and when to push.
Once your complaint is in, SEBI reviews it and your evidence, then forwards it to the company for resolution. The company is expected to respond within 21 days under the current SCORES framework.
If its response is unsatisfactory, or it stays silent, SEBI can step up, escalating through its review levels and, where a genuine financial claim remains unresolved, referring the matter toward a redressal forum or arbitration.
That escalation path is your real leverage.
A company that ignores a shareholder can be made to answer once SEBI’s process is behind you, which is exactly why filing correctly, with the right format and proof, matters so much.
Struggling to get a listed company to release your dividends, shares, or refund?
We will help you frame the complaint the way SEBI acts on it, attach the right proof, and take it through escalation or arbitration if the company keeps stalling.
Conclusion
Being a shareholder does not mean staying silent when a company fails you.
If a listed company has withheld your dividends, denied you shares you were allotted, or ignored your grievance, SEBI gives you a structured, accessible way to hold it accountable.
It comes down to three things: the right grounds, a clear format, and timely action, backed by proof.
You do not have to work it out alone.
If a company has crossed the line and left you out of pocket, we can help you build the complaint and push it to a real resolution, the kind our stock market fraud recovery record shows is genuinely possible.
Report. Recover. Stay Fraud Free.
Frequently Asked Questions
Yes. Non-payment of dividends is a valid shareholder grievance SEBI handles through SCORES. File with your demat details and proof of your holding, state the dividend owed, and request its credit as the relief. SEBI then directs the company to respond.
That is a common and valid complaint. Attach your IPO acknowledgment, the bank debit showing your application money was taken, and your demat statement. State clearly that funds were debited but shares were not allotted, and seek allotment or a refund of your application money.
After you file through SCORES, the company is expected to respond within 21 days under the current framework. If it does not, or the reply is unsatisfactory, SEBI escalates the matter through its review levels rather than closing it automatically.
Yes. A company complaint concerns shareholder rights, dividends, shares, disclosures, while a broker or advisory complaint concerns intermediary misconduct. Both use SCORES, but you must select the correct entity type, and the grounds and evidence differ for each.
If the company ignores or inadequately answers your complaint, SEBI can escalate it, and for an unresolved financial claim, the matter can move toward a redressal forum or arbitration. A well-documented complaint is what carries real weight at that stage.
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