How to Lodge a Complaint in SEBI SCORES: Step-by-Step Process

When Should You Use the SEBI SCORES Portal?

The official SEBI SCORES portal is the right channel when you have a grievance against a SEBI-registered intermediary, which includes stockbrokers, research analysts, investment advisers, mutual funds, depository participants, and portfolio managers.

It is not the right channel for disputes with an unregistered entity, for tax-related complaints, or for general market movement grievances.

The most important rule before filing a SEBI SCORES complaint is to contact the firm directly first.

Write a formal email to the firm’s compliance officer or grievance contact. Give them a written 30-day window to respond.

If they do not respond in writing or if the response does not resolve your issue, then utilizing the SEBI SCORES portal becomes your next step.

Filing on SCORES without first attempting resolution with the firm can result in your complaint being returned.

What You Need Before SEBI SCORES Registration

The strength of your SCORES complaint depends entirely on the quality of your documentation.

However, before you can upload any evidence, you must first create an official account on the platform.

To complete your profile validation as shown in the image below, you need to follow these quick registration steps:

• Step 1: Visit the official SEBI SCORES portal and select the investor registration option.
• Step 2: Enter your personal details, including your full name, PAN, and date of birth, exactly as they appear on your official IDs.
• Step 3: Provide your verified email address and mobile number to receive your secure login credentials and OTP.
• Step 4: Submit the form to generate your unique login ID and password.

A well-organised complaint with clear evidence gets faster attention than a complaint based only on a narrative description.

Before you begin your SEBI SCORES registration and log into the system, have the following ready in a folder on your device:

• Your payment receipts or subscription confirmation documents showing what you paid and when.
• All email and WhatsApp communications with the firm’s representatives, saved as screenshots with visible timestamps.
• Your trading account statements covering the period of the dispute, showing the specific transactions you are raising a grievance about.
• Any marketing material, promotional content, or recorded calls where specific return promises were made.
• Your written complaint to the firm and their response (or evidence that they did not respond within 30 days)

Why Does Choosing the Right Intermediary Category Matter?

One of the most common reasons valid SCORES complaints get delayed is selecting the wrong intermediary category.

Each category routes the complaint to a different SEBI department.

If your complaint is against a research analyst, select Research Analyst as the intermediary type.

If it is against a SEBI-registered investment adviser, select Investment Adviser.

If it is against your stockbroker, select Stock Broker. Selecting Stock Broker when your complaint is actually about an RA will delay the complaint significantly.

When you enter the intermediary name and registration number, confirm both against SEBI’s intermediary portal before submitting. An incorrect registration number will prevent the complaint from reaching the right entity.

What Happens After Your SCORES Complaint Is Submitted?

After successfully submitting your SEBI SCORES Portal complaint, you will receive a unique acknowledgment number.

Save this number. You will need it to track your SEBI complaint status.

The registered intermediary is required to respond to your SCORES complaint within 21 days.

SEBI monitors this timeline and follows up if the intermediary does not respond within the required period.

Log in to the SEBI SCORES portal every 7 to 10 days to check whether the firm has responded.

If they respond with a standard template reply that does not actually address your concern, you can mark the response as unsatisfactory and escalate further.

Do not just leave the complaint sitting after the firm responds.

Your active engagement determines how the complaint moves.

What to Do If SCORES Does Not Resolve Your Complaint?

If your SCORES complaint does not produce a satisfactory resolution within the mandated period, two further escalation options are available.

SMART ODR is SEBI’s Online Dispute Resolution platform.

By accessing the official SMART ODR login portal, you can initiate structured mediation between you and the registered intermediary through an independent conciliator.

The process is entirely online, free to use, and does not require you to appear anywhere in person. SMART ODR has produced binding recovery awards for investors in cases where SCORES alone was not sufficient.

Exchange Arbitration through NSE or BSE is the final step.

An independent arbitrator reviews all submitted evidence and issues a legally binding decision. The registered intermediary is required to comply with the arbitration award.

For claims below Rs. 10 lakh, there is no investor filing fee.

The most important thing to understand about this escalation chain is that each step builds on the previous one.

The evidence you collected before filing on SCORES is the same evidence that supports your SMART ODR mediation and your arbitration case.

Collecting it correctly at the beginning saves significant effort at every later stage.

How an Investor Recovered Funds Using SEBI SCORES?

We recently assisted an investor who lost his money to Stocksence Research Private Limited after being misled by false promises of guaranteed profits.

To bypass strict regulations capping annual fees at ₹1,51,000, the firm committed a major regulatory violation by illegally splitting its ₹3,00,000 payment into advisory and unauthorized mentorship fees, while providing erratic trading directions that caused an additional ₹3,38,000 in losses.

When his initial case was rejected during conciliation, we stepped in to organize his evidence.

We helped him file a formal SEBI SCORES complaint to establish an official regulatory record, and since a resolution was not reached at the initial SCORES stage, we guided him through further escalation.

By exposing the illegal fee structure, the independent arbitrator ruled in his favor, helping the investor successfully recover a total amount of ₹4,31,500 from Stocksence Research.

Registration and complaint documentation were the difference between recovery and no recourse.

Frequently Asked Questions

1. How long does SEBI SCORES take to resolve a complaint?

The registered intermediary is required to respond to a SCORES complaint within 21 days. If no satisfactory response comes within that window, you can escalate to SMART ODR immediately.

The full SCORES to SMART ODR to arbitration process typically takes 3 to 9 months, depending on case complexity and how quickly the intermediary responds.

2. Can I file a SCORES complaint without a lawyer?

Yes. SCORES is designed for direct investor filing. No legal representation is required at the SCORES stage.

What matters is a clear factual description of the issue, the correct intermediary type selected, and proper documents attached to the complaint.

3. What if I do not have the firm’s registration number?

Go to sebi.gov.in, navigate to Intermediaries, select Registered Intermediaries, choose the relevant intermediary category, and search for the firm by name.

The registration number will appear in the search results.

Always verify the registration number before starting your SEBI SCORES registration.

4. Can I file a SCORES complaint if the firm has a no-refund clause?

Yes. A no-refund clause in a private subscription agreement cannot override SEBI’s regulatory obligations.

If the firm violated SEBI regulations through guaranteed return promises or fee transparency failures, the clause will not protect it from a formal SEBI SCORES Portal complaint.

5. What evidence is most important for a SCORES complaint?

The single most powerful piece of evidence is a documented, guaranteed return promise.

A screenshot of a WhatsApp message, an email, or a call recording where a specific return figure was promised gives the complaint a clear regulatory violation anchor under SEBI RA or IA regulations.

Pair this with the payment receipt and trading statement showing losses, and you have a strong factual record.

6. What is the difference between SCORES and SMART ODR?

SCORES is a complaint filing portal monitored by SEBI where registered intermediaries are required to respond.

SMART ODR is a dispute resolution platform that facilitates mediation between the investor and the intermediary through an independent conciliator.

SCORES is the starting point. SMART ODR is the next step if SCORES does not produce a resolution.