Retail investors to get helpline to air complaint against cos

New Delhi, Sep 6 (UNI) Retail investors taken for a ride can now register their grievance on a government-sponsored website.

The website Investor Helpline, being launched on September 8 by Midas Touch, will give investors who have been ripped off a forum to register their grievances and complaints against individual companies including vanishing companies, according to official sources.

The move follows the demands articulated by investor groups and market regulator Securities and Exchange Board of India (SEBI) for protection of the rights of retail investors, the sources said.

Midas Touch is a 10-year-old association active in securing the rights of harried investors and seeking redressal of their complaints. The website is the culmination of several years of pondering over the best way to nail erring companies.

The project, estimated to cost a whopping Rs 300 crore, is being funded by the Ministry of Company Affairs.

According to the sources, details of the complaints lodged will be collated and forwarded to the authorities, be it SEBI, the MCA, or the Registrar of Companies.

UNI SD PV HT1822