Loss of share certificates

#1
Hi Evrybody
I am new to this forum, and i need advice and help regarding loss of shares.


My Father had purchased 400 shares from secondary market in 1998 and sent them for transfer to that company. while in transit, these shares got lost and we were informed very late by the courier people. we then approched the company to inform loss of shares. we took a acknowledgement from a concernd person of the company and he forgot to mention the date.

After sudden demise of my father, we cudn't track about the shares. In 2001, when i visited the company for the shares they informed me that 200 of 400 shares were already tansfered to some other person and asked to get injection from a local court to stop transfer other 200 shares.

when we approached the court for the same , we got detials from the company of share transfers. while i visited the person on whsoe name shares were transfrd, i came to know dat he is a sub-agent of NSE.

The company advocate informally told us dat this is the foul play b/w sub-agent n courier ppl.

The matter is stil pending in the court.

i need advice from u guys on how to go about on this case.


thankQ
Krishna
 
#2
krishnac said:
Hi Evrybody
I am new to this forum, and i need advice and help regarding loss of shares.


My Father had purchased 400 shares from secondary market in 1998 and sent them for transfer to that company. while in transit, these shares got lost and we were informed very late by the courier people. we then approched the company to inform loss of shares. we took a acknowledgement from a concernd person of the company and he forgot to mention the date.

After sudden demise of my father, we cudn't track about the shares. In 2001, when i visited the company for the shares they informed me that 200 of 400 shares were already tansfered to some other person and asked to get injection from a local court to stop transfer other 200 shares.

when we approached the court for the same , we got detials from the company of share transfers. while i visited the person on whsoe name shares were transfrd, i came to know dat he is a sub-agent of NSE.

The company advocate informally told us dat this is the foul play b/w sub-agent n courier ppl.

The matter is stil pending in the court.

i need advice from u guys on how to go about on this case.


thankQ
Krishna

you can report this matter (with proofs) to the grievances cell of NSE. If foul play is found from the agent, his membership can be cancelled and he can be debarred from trading (i believe so).

You can visit www.nseindia.com for futher details.

Satya

Whom should I approach if I have a grievance against a sub-broker/ company?
You should bring it to the notice of the broker with whom the sub-broker
is affiliated. In case the subbroker/broker fails to resolve the dispute and in case of complaints against a broker/company, you should take up the matter
with Investor Grievance Cell of the exchange. The Cell takes up complaints for redressal in respect of trades executed on the exchange or trades pertaining to companies traded on the exchange. You should lodge the complaints in the prescribed form with all associated documents such as
contract notes, purchase/ sale notes, bills, statement of accounts and
the member-client agreement.

State in which dealing office of the Complaint to be addressed to
trading member is located where
trade was executed
Maharashtra, Gujarat, Goa, Daman, Investor Grievance Cell
Diu, Dadar & Nagar Haveli, Madhya National Stock Exchange of India Ltd.
Pradesh, Chattisgarh Exchange Plaza,
Bandra-Kurla Complex,
Bandra (East), Mumbai 400051.
Tel. No. (022) 26598100-114
Fax No. (022) 26598191
email : [email protected]
Delhi, Haryana, Punjab, Uttar National Stock Exchange of India Ltd.
Pradesh, Uttaranchal, Himachal Thapar House, Western Wing,
Pradesh, Jammu & Kashmir, Mezzanine Floor, Janpath Lane,
Chandigarh, Rajasthan 124 Janpath, New Delhi - 110 001. Tel No.: (011) 2334 4313 to 2334 4327
Fax No.: (011) 2336 6658

West Bengal, Bihar, Jharkhand, National Stock Exchange of India Ltd.
Orissa, Assam, Arunachal Pradesh, Ideal Plaza, 11/1, Sarat Bose Road,
Mizoram, Manipur, Sikkim, Kolkatta - 700 020.
Meghalaya, Nagaland, Tripura, Tel No.: (033) 2280 1202-05, 2280 5950-
Jharkhand 55
Fax No.: (033) 2240 9783, 2280 5957

Andhra Pradesh, Karnataka, Kerala, National Stock Exchange of India Ltd.
Tamilnadu, Andaman & Nicobar, 7th Floor, Arihant Nitco Park, 90,
Lakshwadeep, Pondicherry Dr Radhakrishanan Salai, Mylapore, Chennai - 600 004
Tel No.: (044) 2847 5100 / 2847 3670 Fax No.: (044) 2847 3633
 

pkjha30

Well-Known Member
#3
Hi
I really sympathise with you on loss of share cerificates.
This is a clear case of forgery and now you know the names of the persons involved i.e. sub agent of nse and courier company.I understand that shares which are in the names of your father could not be transfered to another person without your father's consent in writing or by a mandate and requisition.
You can file complaint with the police under section 420 of IPC. If you meet senior officers who deal with economic frauds they will help.

Writing to nse authorities would also help as suggested by srisara

You can file a case directly in the court naming the persons involved i.e. sub agent and courier and the company and plea for transfer of the shares all 400 shares to you as the legal heir of your father. For legal heirs you have to get one order from the civil court stating that you are the legal heir. If there are more than one heirs to your father's property then you get no objection from them after the court' decree of legal heirs for all of them or aportion the shares equally among all legal heirs and get power to represent them.

In any case you are in for a long haul. If you think that these shares are worth owning them I wish you good luck . You need a really good lawyer to present your case. They will advise you in detail.As for lawyers do not go to anybody. Check out on them and if many people are recommending positively and if somebody known to you and the lawyers both would be helpful. But meet all the recommended lawyers and judge yourself as to who would be suitable.

Wish you good luck

Pankaj
 

Similar threads