A reasonably frequent investor should have plenty of harassment stories:-
We still have shares of Companies like Orkay, Mototorola,Pam Pharma were the management seems to have done a vanishing act like the new Ram Gopal Verma film "Gayab". They are not even quoted now.
Two-three years ago, we made a deposit in Morepen laboratories whose financial record was better till then. The company got into financial trouble after somebody died. As directed by the company law board, they pleaded that they would pay in percentages in the first,second, third year. They have not kept their promise and even after repeated reminders by Registerd Post, Faxes, UPC and even a chat with their managing director, there is no light at the end of the Tunnel. We have threatened legal action but that is like the remedy being worse than the disease. There is this saying," A fool always finds a bigger fool to admire him". Lawyers and courts can prove as cumbersome as the defaulting company. What does one do?
I have written elsewhere on this forum how we got back our money from ONGC after my brother-in-law went to their office 5 times in addition to numerous phone calls and correspondence from Delhi. Want to try Sebi?
It would not be out of place to mention here that some years ago when DDA was not giving poseession of our property, we collectivelly faught under the leadership of one of our co-alotees. Twenty of us would collectively gherao the DDA officials and it would naturally have the desired effect. We not only got the possession but under that person's leadership also got a tax annulment(it was wrongly charged)from court without the help of a lawyer.
This is what is possible when people unite.Everybody is aware of Strength in Unity. I would add organized unity. I am sure other members in this forum have similar stories.The advantage we now have is the internet and forums such as these where it is possible for different people in different areas with a common cause to get together. We can devise some kind of modus operandi on what to do collectively. Otherwise merely stating grievances is like wailing or breast beating. At the recent investor camp,prominent financial services provider, Mr Vallabh Bansali spoke on value investing. I wrote to him and it is to his credit that he replied. He replied that we are all victims of the system and he hoped to do something dramatic someday. This kind of attitude was justified in the pre-internet era but now at least an attempt can be made. At the camp, Chidambaram had to categorically express his helplessness in such matters when things got out of control.
It is said that the hand is the cutting edge of the mind. We have the cutting edge in internet in general and this forum in particular. . It is upto us how we use it-talent is more important than the tool. If we use the tool with imagination, then someday in the distant future the problems may gayab( disappear). Till then we can be "Main hoon Na" for one another. How's that?
We still have shares of Companies like Orkay, Mototorola,Pam Pharma were the management seems to have done a vanishing act like the new Ram Gopal Verma film "Gayab". They are not even quoted now.
Two-three years ago, we made a deposit in Morepen laboratories whose financial record was better till then. The company got into financial trouble after somebody died. As directed by the company law board, they pleaded that they would pay in percentages in the first,second, third year. They have not kept their promise and even after repeated reminders by Registerd Post, Faxes, UPC and even a chat with their managing director, there is no light at the end of the Tunnel. We have threatened legal action but that is like the remedy being worse than the disease. There is this saying," A fool always finds a bigger fool to admire him". Lawyers and courts can prove as cumbersome as the defaulting company. What does one do?
I have written elsewhere on this forum how we got back our money from ONGC after my brother-in-law went to their office 5 times in addition to numerous phone calls and correspondence from Delhi. Want to try Sebi?
It would not be out of place to mention here that some years ago when DDA was not giving poseession of our property, we collectivelly faught under the leadership of one of our co-alotees. Twenty of us would collectively gherao the DDA officials and it would naturally have the desired effect. We not only got the possession but under that person's leadership also got a tax annulment(it was wrongly charged)from court without the help of a lawyer.
This is what is possible when people unite.Everybody is aware of Strength in Unity. I would add organized unity. I am sure other members in this forum have similar stories.The advantage we now have is the internet and forums such as these where it is possible for different people in different areas with a common cause to get together. We can devise some kind of modus operandi on what to do collectively. Otherwise merely stating grievances is like wailing or breast beating. At the recent investor camp,prominent financial services provider, Mr Vallabh Bansali spoke on value investing. I wrote to him and it is to his credit that he replied. He replied that we are all victims of the system and he hoped to do something dramatic someday. This kind of attitude was justified in the pre-internet era but now at least an attempt can be made. At the camp, Chidambaram had to categorically express his helplessness in such matters when things got out of control.
It is said that the hand is the cutting edge of the mind. We have the cutting edge in internet in general and this forum in particular. . It is upto us how we use it-talent is more important than the tool. If we use the tool with imagination, then someday in the distant future the problems may gayab( disappear). Till then we can be "Main hoon Na" for one another. How's that?