No proposal to resume Investor Helpline project: Sachin Pilot

NEW DELHI: Corporate Affairs Minister Sachin Pilot has said that there is no proposal to resume operations of Investor Helpline project, a grievance redressal portal.

"...There is no proposal to resume assistance for the website," Pilot said in a written reply tabled in Rajya Sabha yesterday.

The Ministry of Corporate Affairs (MCA) had discontinued the Investor Helpline as it had created a new system in place, which would handle issues 'better'.

Investor Helpline, launched in 2006, was one of the first facilities which took up investor grievances -- against companies and mutual funds -- falling under three different regulators MCA, Sebi and RBI.

In order to avoid duplication of work and also to save government funds, it was decided to discontinue the Investor Helpline project.