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Investor complaints: ONGC tops list

Source: PTI
October 10, 2006 16:54 IST
It is one leadership position the state-run energy giant ONGC could have done without, but nevertheless finds itself topping the list of corporates against whom investor complaints are pending for more than two months.

Oil and Natural Gas Corporation Ltd, the country's largest corporate entity in terms of market capitalisation, is facing as many as 17 complaints pending against it for more than two months, which is highest for any company listed and trading on the National Stock Exchange.

The exchange said in a statement that out of the companies whose securities are traded on NSE, ONGC leads the tally with 17 complaints, followed by Administrator of Specified undertaking of Unit Trust of India and Sterlite Industries India Ltd, who are facing five complaints each.

The number of pending complaints are as on September 30, NSE said. Other corporates with highest number of complaints pending include PSU gas major GAIL India, FMCG major Hindustan Lever, Nalwa Sons Investments Ltd, Monnet Ispat, PSU telecom major Mahanagar Telephone Nigam Ltd, Oswal Chemicals & Fertilizers Ltd and Reliance Petroleum Limited, who have two complaints each pending against them.

Vatsa Corporation Ltd leads the tally of corporates whose securities are suspended or withdrawn from trading on NSE, in terms of the number of complaints pending against them for a period of more than two months as on September 30, 2006.

Vatsa Corporations has 80 complaints pending against it, followed by Soundcraft Industries Ltd with 28 complaints. Pal Peugeot Ltd is facing 12 complaints, Enkay Texofood Industries Ltd has eight complaints and Arihant Industries Ltd has five complaints pending against it.

Patheja Forgings & Auto Parts Manufacturers Ltd and Eider Infotech Limited have four complaints each pending against them, while Cauvery Software Engineering Systems Ltd and Western Paques (India) Ltd have three each. Scintilla Software Technology Ltd has two complaints pending against it.

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