Unclaimed Shares ScamAfter a three  week hiatus due to unavoidable personal commitments, I woke up to a couple of news relating to our business. First is this news item in the Times of India on 23rd October, 2017. News item states that unclaimed shares are being misused by a few unscrupulous operators in connivance with Registrars and Transfer agents and perhaps banks. This unholy nexus is quite disturbing.

Ever since GDP Growth rate for Q1 of FY18 was announced on 1st September, 2017 there is nonstop discourse on the bad shape of Indian economy. Call it discourse or whining, everyone has an opinion on this. P. Chidambaram tweeted: “Our worst fears have come true. Sub-6% growth is a catastrophe. The slide in economy continues. Slow growth, low investment and no jobs. An explosive cocktail.” People who have to be taken seriously – Yashwanth Sinha, Subramanian Swamy, Gurumurthy – have complaints of varying degrees. Subramanian Swamy says economy is in tailspin and says according to “Samuelson-Swamy” theory one needs to search growth. Gurumurthy says GST, DeMo, NPA, etc are the problems and economy is slipping.

Forgotten assets such as investments in Shares, Debentures, Mutual Funds, Bank Deposit, Provident Fund, Bank Deposits etc are posing lot of problems for its holders and legal heirs alike. We have made a detailed post on Unclaimed Dividends and shares titled “Golden Egg – Reclaiming Forgotten Shares in Listed Companies” here. We have outlined high level process required to claim these assets, our services and the reason why it has happened in the first place. Newer readers to our blog are encouraged to go through that post or follow that tag “Golden Egg” in our blog. We are expanding on that post and are planning to write detailed posts as a series. Part I is “Succession Certificate”.

There was a T.M.Krishna’s carnatic music concert at Shringeri Mutt in Kripashankari Street West Mambalam less than a week before. In the one hour I was there, he sang Devamanohari (Muthuswamy Dikishitar’s Bharathi Maddishana) and Suddha Saveri (As of writing this blog, I don’t even remember what he sang. I think it is Thyagaraja’s Dharini Telisi Konti). Overall, his performance was so-so.

We were talking about wealth yesterday. We are now taking about acute poverty. What kind of an oxymoron company are we? The reasons are two folds. One, we or not just reclamation agency for forgotten wealth of individuals or strategic financial advisers for emerging SMEs....

It is a non-descript corner of Salem, Tamil Nadu. The lady was sitting in her small flat in a usual dry evening. Our territory manager approached the lady and asked if the particular person lived in the address. Actually, he was no more and the family has changed the residence three times. Our territory managers do a bit of Sherlock Holmes, before they reach the right prospect and he knows about it.

PM Modi's announcement of demonetization of Rs.1000 and Rs.500, seems to have polarized the country – People who have black money against whom Modi is waging a war, and others who know how to make it white and are willing to offer their services. And virtually everyone is a financial and economic expert who has very strong view one way or another.