Tracing assets, unclaimed shares & stocks in India

Sometime back, a client of mine from Kathmandu, Nepal was browsing through his attic and amongst other things that were discovered, they found quite a few file folders containing ancient share certificates, company letters and intimations regarding shareholders meetings, announcement and payments of dividends, bonuses, annual reports etc. These investments had been done by the clients' grandfather while he was doing business in Calcutta, India in the late1930s and 1940s.

The family was quite clueless about what should be done with these certificates. The documents contained valuable information, but stored away for many years, which the family thought was junk.

A chance conversation got us talking and he wondered if we could help?

Our team got in action and we helped the family in recovering the amounts they were entitled to. Investigations, starting on a trail, lodging succession claims at courts were done for establishing the legal claim title. The procedure took over a year but the results were `worth' it.

Moral of the story: Do not throw any old bank statement or passbook or share certificate that might belong to your parents or grandparents. It may not be useless ? there might be some value, unknown to you and it is never too late to start working on tracing assets!

In case you need more information, please contact us through email - write to fund.tracers@gmail.com

News story as appeared in ntipur, a leading Nepalese language Newspaper from Kantipur Publications, Kathmandu, Nepal on December 16 2006

भारतीय कम्पनीमा नेपालीको सेयर
लगानीकर्ता सम्पर्कबाहिर

मुराहरि पराजुली

काठमाडौं, पुस १ - कोलकातास्थित कम्पनीका एक सेयरधनीको ठेगाना कमलपोखरी, काठमाडौं लेखिएको छ । कम्पनीले हरेक वर्ष त्यही ठेगानामा पत्र पठाउँछ तर बुझ्ने व्यक्ति फेला पर्दैन । पत्र कोलकाता र्फिर्न्छ र रद्दीको टोकरीमा जान्छ । यो क्रम वर्षौंदेखि चलिरहेको छ ।

'भारतीय कम्पनीहरूबाट यस्ता थुप्रै पत्र नेपाल आउँछन्, जसको जवाफ कहिल्यै जाँदैन,' सम्पर्कमा नआएका सेयर लगानीकर्ताको खोजीमा सात वर्षदेखि जुटेका सेयर मध्यस्थकर्ता राकेश गुजराल भन्छन् ।

उनको अध्ययनअनुसार कोलकाताका २२ कम्पनीमा ४५ नेपालीको सेयर छ । नेपालीहरूले वर्षौंअघि खरिद गरेको ४० हजार कित्ता सेयरको बजार मूल्य अहिले करिब २ करोड ८ लाख रुपैयाँ पुगेको उनले बताए । कोलकातामात्र होइन, मद्र्रास र मुम्बईका कम्पनीमा पनि नेपालीको सेयर लगानी हुन सक्ने उनको अनुमान छ । 'आउँदो तीन महिनाभित्र मुम्बईमा सूचीकृत कम्पनीमा नेपालीको सेयर रहे/ नरहेको पत्ता लगाउने मेरो योजना छ,' उनले भने- 'त्यसपछि मद्रास जान्छु ।'

गुजरालले सन् १९७० अघि भारतीय कम्पनीमा विदेशीले गरेको लगानी खोजिरहेका छन् । उनका अनुसार कोलकाताका कम्पनीमा नेपालीबाहेक श्रीलंकाली, बेलायती, प|mान्सेलीको लगानी छ । 'अहिले म नेपालीको सूची लिएर आएको छु,' उनले भने ।

उनको सूचीमा कर्णेल जनशमशेर जबरा, मिनारजंग थापा, पद्मकुमारी देवी, राजबहादुर चिपालु, दिलबहादुर श्रेष्ठ, पीयूषराज शर्मा, प्रेमकुमारी पाण्डे, बडामहारानी दिलकुमारी देवी, सोमप्रसाद उपाध्याय, सिद्धिनाथ रिमाल, नरेन्द्र सिंह आलेजस्ता नाम छन् ।

बाबुबाजेले लगानी गरेको छोरानातिलाई थाहा नभएर दोहोरो सम्पर्क नभएको उनको अनुमान छ । उनको सूचीमा भएका नाम व्यापारको सिलसिलामा कोलकाता ओहोरदोहोर गर्ने, यहाँबाट धनसम्पत्ति बोकेर लामो समयका लागि बसाइ सरेका, महावाणिज्य दूतावासमा काम गरेका उच्च अधिकारी र अध्ययनलगायत काममा ५/६ वर्ष बसेका नेपालीहरूको हो ।

हालसम्म उनले बीओसी इन्डिया, बिड्ला ग्रुप, गोयनका ग्रुप, इलेक्ट्रोस्टिल कास्टिङ, जीकेडब्लू लिमिटेड, मेहता ग्रुप, टाटा ग्रुप, तितागढ इन्डस्टि्रज र सरकारी स्वामित्वका संस्थानमा नेपालीले लगानी गरेको पत्ता लगाएका छन् । 'यी कम्पनीमा एउटै व्यक्तिको १ करोड रुपैयाँसम्म सेयर लगानी छ,' उनले भने । गुजरालले यसअघि १५ कम्पनीमा रहेको नेपाली सेयर लगानी सम्बन्धित वारेसलाई हस्तान्तरण गर्न सहयोग गरेका छन् । दुईवटा सेयर हस्तान्तरणका मुद्दा नामसारीको प्रक्रियामा छन् । सुरुमा नजिकको साथीलाई सेयर नामसारीमा सहयोग गरेपछि यस्तै खाले अरू मुद्दामा रुचि बढेको उनले बताए ।

तत्कालीन कलकत्ता सेयर बजारमार्फत कारोबार गर्ने सूचीकृत कम्पनीहरू हाल नेसनल स्टक एक्सचेञ्ज र बम्बई स्टक एक्सचेन्जमा गाभिएका छन् । बम्बई स्टक एक्सचेन्जमा हाल ७ सयभन्दा बढी कम्पनीको कारोबार हुने गर्छ ।

Posted onKantipur Server: 2006-12-16 21:55:19

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News story as appeared in Kathmandu Post, a leading English language Newspaper from Kantipur Publications, Kathmandu, Nepal on Feb 24 2006

Ranas hunt for ancestral treasures
BY SURENDRA PHUYAL

NEW DELHI, Feb 24 - Several descendents of the Ranas are dusting off old documents from their 'sanduks' and shelves and are arriving in India for treasure hunting. Like the descendent of Chandra Shumsher [1901-1929] who hunted shares, debentures and assets worth nearly Indian Rs 10 million five years ago, most of them are succeeding too.

Dating back to the reign of the East India Company that ended in 1947, influential Nepali rulers, governors, their relatives, 'Bhai-bhardars' had invested millions and millions of rupees -- in shares, debentures, bank accounts and prime assets such as real estate and properties -- in India. And many of them, documents obtained by the Post reveal, have succeeded in reclaiming valuable assets and properties.

The Chandra Shumsher offspring [who wants to remain anonymous], for instance, started the treasure hunt in 1995. It all started after the a Delhi assets tracer, Jiwan Lal, found annual reports of several Indian companies -- more than half of them cease to exist today -- at his Jawalakhel residence. An enquiry was held with 24 companies that existed and "19 companies confirmed that the [Rana's] shares were still there," says the young Rana.

He's not alone. The offspring of Bir Shumsher [1885-1901] became successful in reclaiming shares and "back dividends" from 40 out of the 60 companies in India, following of course, the labyrinthine process of succession. That starts with the acquisition of a succession certificate from the high court in the area.

And it's definitely worth it. In all, the Bir Shumsher descendent reclaimed 12 million Indian rupees from the companies' shares and dividends. "After selling all his shares, today he's living happily in Kathmandu," say Jiwan Lal. "He's leading a luxurious life like many of his forefathers."

Since 1994, Jiwan Lal's firm has already helped nearly a dozen Nepalis -- most of them descendents of Rana Prime Ministers [who ruled Nepal between 1846 -1950] or their close aides such as Shahs, Thapas, Acharyas, Dixits, Joshis, Manandhars and Shresthas -- reclaim treasures "illegally siphoned away" by their rich and (in)famous forefathers.
Consider these historical facts:

*Around 1850, the 'Great Rana Prime Minister' Junga Bahadur Rana established a national treasury and deposited Rs 110 million. That treasury was indiscriminately exploited. His successor Chandra Shamsher extracted 45 million rupees on two separate occasions. Bhim Shamsher [1829-1932] exploited part of that. Later, Juddha Shamsher [1932-1945] collected a large sum of donations following the 1934 earthquake - again to exploit.

*Around that time, the wage of an unskilled laborer was just Rs 0.02 and that of an artist was Rs 0.48.

*Chandra Shamser had offered Rs 800,000 in cash, silver equivalent to Rs 2.5 million, cardamom equivalent to the sum of Rs 40,000, tea leaves equivalent to 84,699 pounds, 2 hundred jackets, 12 long coats and 220 saal trees to the British rulers around the time of World War I.

*A portion of loan was however returned after World War I [1914-1918] during Chandra Shumser's reign. After that secret deal, Chandra Shumsher distributed Rs. 90,000,000 in pure silver to each of his 9 sons, and a separate amount ranging from 20 to 40 million 'silver rupees' to each of his four surviving brothers.

*The last Rana Prime Minister Mohan Shamsher migrated to Bangalore in South India, where his palatial bungalow has been turned into a museum today. Rana Prince-turned Nepali Congress leaders Subarna Shamsher and Mahavir Shamsher inherited prime properties in Kolkata. They also owned India's first private airline, Himalayan Aviation, around the 1940s. The aircraft were also used to distribute pamphlets before 1950.

Historians (Pramod SJB Rana, Dhundi Raj Bhandari, M.P. Shrestha) conclude that the Ranas and their 'Bhai-bhardars' made investments in India because much of what they owned was ill-gotten. Things started changing after democracy came to Nepal in 1950 [Falgun 7, when King Tribhuvan returned home ending his brief exile in India]. Even so their legacy remains.

And the investors were far-sighted, too. "The Chandra Shamsher offspring, for example, continues to boast an 1852 East Indian Company debenture certificate with a face value of IRS 5,000," says Jiwan Lal. "Recently, somebody at the London Auction House offered IRS 800,000 for that, but he didn't sell it."

Currently, Jiwan Lal's firm is studying some old documents produced by a Rana and a Shrestha family, respectively. The first one -- a register, dated April 1958 -- talks about a sum total investment of IRS 169,130 in several pre-1947 Indian jute mills and tea estates. The second one -- a note book believed to have been maintained in the early 1950s -- talks about clearance of IRS 426,000 plus as tax and penalty to the Indian government.

"If this guy paid so much tax way back in the '50s he could have been a multi-billionare by now," he says, seated in his north Delhi home-cum-office. But the problem is this: much of such ancient properties and investments in India have been nationalized by the post-1947 governments.

The third most interesting bounty-hunting success story involved a Juddha Shumsher offspring from one of his house-maids-turned wife, or the "C" grade Rana. He acquired nearly Indian 8 million rupees. "He's in Kathmandu these days happy and spending time playing Bridge."

Posted on kantipur Server: 2006-02-23 20:32:30 (Server Time)

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Every investor expects to earn regular and decent returns on his investment. One of the most popular instruments of investment is shares in a public listed company. It could be preference shares or equity shares, though due to various factors investment in equity shares is more popular than in preference shares.

While preference shares carry an assurance of fixed rate of dividend, there is no such guarantee in the case of equity shares. However, a holder of equity shares would expect to make money through capital appreciation, which could be in addition to the dividend that he may earn on the equity shares.

A question that arises in this context is, whether a company is bound to declare dividend on its share capital. In the case of preference shares, a company is normally required to declare dividend annually or in accordance with the terms of issue of preference shares. It needs to be noted that, declaration of dividend presupposes earning of profit by a company, though in some cases a company can declare dividend out of its reserves.

In other words, in case of a loss making company, even a preference shareholder may be denied his due. If the preference shares are cumulative preference shares, then the unpaid dividend on such shares would be carried forward to the subsequent years. However, if the preference shares are non-cumulative, then the inability of the company to declare a dividend in a particular year will not give any right to the preference shareholders to carry forward the unpaid dividend.

So far as equity shares are concerned, by it’s very nature, no company can promise any fixed dividend. Moreover, equity shareholders rank only after preference shareholders. At the same time, it is natural for an equity shareholder to expect that the company in which he is holding the shares would perform well and declare a dividend from time to time. With a view to protect the interests of investors, the Companies Act, 1956 (the Act) imposes certain obligations on a company declaring a dividend.

It should be noted that the term “dividend” also includes any interim dividend that may be declared by a company and as such all the provisions applicable in the case of dividend are also applicable to interim dividend. Every company declaring dividend or interim dividend is required to deposit the total amount of dividend in a separate bank account within five days from the date of declaration of such dividend.

It is the duty of the company to pay dividend within 30 days from the date of declaration to every shareholder who is entitled to the payment of the dividend. Section 205A of the Act requires a company which has an unpaid or unclaimed dividend lying with it to be transferred to a separate bank account within seven days after the expiry of the said period of thirty days. It should be noted that such an account has to be opened only in a scheduled bank.

It is a common feature that virtually every listed company has cases where some of the shareholders don’t encash their warrants. As a result, every year a company could have some amounts with it, which have not been claimed by some shareholders.

This results in a piquant situation, on the one hand, investors clamour for more and more dividends, at the same time there are several investors who fail to encash dividend warrants sent to them. This could happen due to loss of dividend warrant in transit, mutilation of a dividend warrant, death of shareholder, dispute in the family, change in address, etc. The net effect being that the shareholders are denied the dividend declared by the company, while the money remains unclaimed with the company.

The amount of dividend that remains unpaid or unclaimed will continue with the company by way of a deposit in a special bank account. Earlier, such amount of unclaimed dividend used to remain with the company for a period of three years. As a result, any shareholder who had not claimed the dividend could do so any time during the period of three years.

Thereafter, after the expiry of three years period, the company was required to handover the amount remaining in the unclaimed dividend account to RBI. Any shareholder, who had not claimed his dividend, could do so from RBI by making necessary application to that effect.

Now the Act has been further amended and a new provision in the nature of Section 205C has been introduced in the Act. In terms of this section, the Central Government has established a fund called “the Investor Education and Protection Fund.” According to this new provision, a company is required to credit to the said fund the following amounts, namely:
(a) amounts in the unpaid dividend accounts of companies;
(b) the application moneys received by companies for allotment of any securities and due for refund;
(c) matured deposits with companies;
(d) matured debentures with companies;
(e) the interest accrued on the amounts referred to in clauses (a) to (d);
(f) grants and donations given to the fund by the central government, state governments, companies or any other institutions for the purposes of the fund; and
(g) the interest or other income received out of the investments made from the fund;
Another significant change that has been effected is in respect of the period for which a company can hold the amount of unclaimed dividend, interests deposits, etc.

This period has been raised from three years to seven years. In other words, now till seven years from the date when the said amount became due for payment, a shareholder can claim the same from the company. However, after the expiry of the seven years period, all the amounts including unclaimed dividend as mentioned above, will have to be deposited in the fund.

Here it needs to be noted that once the amount is deposited in the fund then the shareholder will have no right whatsoever to claim the amount of unclaimed dividend. Similar would be the fate of a share applicant, a deposit holder or a debenture holder who fails to claim his unpaid amount within seven years from the due date.

No claim can be made against the fund and the court will not make any order directing the repayment of the said fund [Gaurav Toshniwal v Best & Crompton Engg Ltd} {[2004] 52 SCL 600 (CLB-Chennai)].

Hence, every investor should ensure that the dividend receivable from a company is not only received but is duly deposited and credited in to his bank account. Otherwise, the said amount would be lost for good. u

The author is a Company Secretary

http://www.financialexpress.com/news/dividend-claim-it-before-it-is-too-late/55457/

The Financial Express
Posted: 2004-06-20 00:00:00+05:30 IST
Updated: Jun 20, 2004 at 0000 hrs IST

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A great story from the Times of India

MUMBAI: The British may have left us six decades ago but fascinating traces of empire continue to pop up in unexpected places. On Tuesday, when an unclaimed locker at the State Bank of India’s head office at Fort was finally opened, the authorities found a gun and a small pile of ammo: an automatic Mauser pistol and five magazines with 261 cartridges.

The locker, registered in the name of Lt A B Greenwood, also had a copy of The Times of India dated September 14, 1923.

Brijesh Singh, deputy commissioner of police (zone-I), said on Wednesday that the bank came across the little haul when it was checking on its unclaimed lockers. On January 27 this year, two carbines and 12 grenades, believed to have been stashed away by Khalistani terrorists, were found in a locker at the SBI’s Bandra branch. The SBI was earlier known as the Imperial Bank. The police believe that the Mauser pistol and the cartridges were placed in safe-keeping before Independence. Seven big cartridges, inscribed with ‘K-10 VIII’, a rod to clean the barrel, a wooden box, some documents and a holster were also in the locker. The Times of India copy has a prominent advertisement from Richardson & Cruddas, the 1858 engineering firm whose nameplate still dominates the factory shed at Byculla. It was nationalised in 1972.

After the general manager of the bank, Tarachand Walve, informed the MRA Marg police about the find, a team of policemen arrived on Tuesday morning to take possession of the goods.

From the documents available DCP Brijesh Singh provided additional details: ‘‘There was a letter from the deputy post master general to Greenwood acknowledging receipt of the two packets found in the locker. There was also a piece of paper which stated that the automatic pistol had been custom made for a Rajah (whose name is not mentioned) and that it cost Rs 300.

“The cartridges cost Rs 200, according to another receipt. The receipt also mentioned that the pistol was a present given to Greenwood,” Singh added.

Unfortunately, there are no personal papers to give us a lead to learning more about Greenwood’s identity or his address. But given that the weapon has lain peacefully in the locker for 83 years, the police have ruled out a possible conspiracy. The ISI has not been blamed.

http://www.razarumi.com/2006/10/13/discovered-a-raj-pistol-in-an-unclaimed-locker/

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24 Dec, 2007, 1430 hrs IST,Gayatri Nayak, TNN

MUMBAI: Over Rs 1,000 cr is lying unclaimed with banks in India in 1.03 cr inactive accounts. Banks term money lying in accounts that have been inactive for over 10 years as unclaimed deposits.

According to the latest figures released by the Reserve Bank of India, Rs 1,018.8 crore is lying unclaimed in 1.03crore accounts with all bank groups as of December ‘06. Bankers say the amount could be even higher this year as claims on such deposits seldom get settled in a short period.

Interestingly, a bulk of this money is lying in savings deposit accounts. It accounts for more than 75% (77.4 lakh) of the number of accounts and over 60% (Rs 629.94cr) in terms of value of unclaimed money. The accumulated interest on these deposits is Rs11.5crore. While only about Rs232 crore is lying unclaimed in fixed deposits in 8.3lakh accounts.

Public sector banks account for more than 90% ( Rs 941crore) of such deposits. But Canara Bank (Rs 178crore), followed by Punjab National Bank (Rs 128 crore) and State Bank of India (Rs 95 crore) top the list with accounting for more than a third of unclaimed deposits among public sector banks.

Unclaimed deposits are transferred to the banks head office from a branch if they are not claimed (in case of fixed deposits) or if accounts are unutilised (in case of savings and current accounts) for more than 10 years.

The Reserve Bank however, does not have any explicit accounting policy on such deposits, they are categorised as current and contingencies in their balance sheets. These resources come handy at times of a boom in long-term credit demand. But, at the same time attract a cash reserve requirements (CRR) — parking a stipulated portion of bank deposits with the central bank — and entails an outgo when CRR is hiked.

But from the customer’s point of view, RBI has asked banks to make efforts to get in touch with the customer if an account is not operated for over a year. If account holders fail to respond or communications bounces back, efforts need to be made to locate the new address, according to a circular issued more than a decade ago, said sources.

Only after 10 years of inoperation that an account is classified unclaimed. Bankers say that much of the money lying in unclaimed accounts is by individuals or Hindu Undivided Family accounts. Very rarely do accounts owned by businesses, corporates and trusts go unclaimed in time, they add. This is largely because may of these accounts belonging to individuals who have been deceased without leaving a will.

Sometimes, even legal heirs are not aware of accounts owned by their predecessors and often come to light many years later. Things are, however, slowly changing now with banks making nomination almost compulsory at the time of opening an account.

http://economictimes.indiatimes.com/Unclaimed_Money_Banks_may_end_up_with_Rs_1000_cr_booty/articleshow/2646368.cms

Unclaimed Money: Banks may end up with Rs 1,000 cr booty

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3 Dec 2005, 0028 hrs IST , Prabhakar Sinha , TNN

NEW DELHI: The amount of unclaimed money in bank accounts has touched Rs 880.74 crore. According to the definition of RBI, any account where the money has not been claimed for last 10 years, will be treated as unclaimed account.

Unclaimed savings acco-unts get a 3.5% rate of interest. But, uncliamed fixed deposits do not earn any interest as the contract period has already been expired and the depositor has neither renewed nor claimed the amount,
the finance ministry told the Lok Sabha.

A large number of unclaimed accounts belong to people who are no longer alive. Since the legal heirs have to go through a tedious process, as insisted by banks, to claim the amount, many of them do not claim any amount.

Particularly in case of small deposits, it is profitable not to claim the money as the cost of claiming could be higher than the mount left in the account.

http://www.articlearchives.com/banking-finance/banking-finance-overview/1851980-1.html

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Certificate of The Howrah Sheakhalla Light Railway Company Limited, issued on 10th April 1900.

The Company was set up by an existing British Managing Agency House, Martin & Co a giant in Engineeing in the early part of 20th Century. The Managing Agency House promoted a number ofrailway companies and power utilities. It is now know as Martin Burn Limited , after its merger with Burn & Co in 1946

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Some families from Sri Lanka own shares in Indian Companies that may be unclaimed for a long time

Some SriLankan families are holding shares and stocks in India but the same are unclaimed. The dividends on such accounts have not been claimed for a long time.

You could say these shares in Indian companies may have been forgotten by the shareholders/ or their families; they may have forgotten to inform the companies of their change in address; the shareholder may have forgotten to tell his/her family about such investments; the shareholder themselves may be deceased and the family members may nothave pursued the succession proceedings; but the fact remains that these shares are unattended - the corporate benefits on them like dividends, bonuses are unclaimed for many many years.

Some of the names are KARUPPIAH ARUNSALAM PILLAI, PANNIAH CASIP PILLAI, S R THURAI, Sidambaram Vytilingam, P A Ignitius, Lilina Seelawathie Gunatilleva, Luis Charles De Soysa Pieris, N Caruppenan Pillai, Norman Edward Weerasooria, John Spencer Coats, Etc.

The shares continue to be in their names; these investments must have happened atleast 60 years back. Chances are that the shareholder may have been deceased or too old. The dividends on such accounts is outstanding for many many years. The shareholder/ legal heirs would be entitled to the same.

We can help you in claiming the shares if the shareholder is deceased and you are a legal heir.

In order to contact me, please go to my website www.fundtracers.com and contact me through that site.

Unknown to many people, there are huge unclaimed funds in India that are locked up in Shares and securities of listed Indian companies, bank accounts & deposit accounts, insurance policies, properties etc. It is not just the resident Indians but even nationals from Nepal, Burma, South Africa, England, Mainland Europe that are entitled to missing, unclaimed or forgotten fortunes in India

Lots of foreigners find it difficult to trace assets in India that were acquired by their family elders and ancestors. As already mentioned, Lots of people from Nepal, Burma, Africa, England, Europe, USA, Canada etc., are holding equity shares in Indian companies. These were acquired during the initial years of the 20th century till probably the mid sixties. British people invested in the shares of Indian companies as well as property during the period of the British Raj – when the British were running the government, Armed forces, business houses and companies in India. Likewise, people from Nepal, Burma, Sri Lanka. Mainland Europe and Africa who had business interests in India also invested in shares, lands and buildings. Most of them may be deceased or they may have changed address and lost contact with the company but the shares still exist in their names.

Shares may become untraceable for a variety of reasons – the company may change its name, it may have been merged with another, or it may have become sick and / or gone into liquidation. Or simply the person who bought the shares or operated the bank account forgot to inform their family or records were misplaced and the family may not be aware of the same.

The person who opened and operated the account may have forgotten to tell his/her family members about the account; or may be the person moved address and forgot about the bank account. There have been instances where people moved overseas from India and lost track of their lands etc.

Contact us if you feel that you, or any of your family elders or relatives hold any assets in India – they may be deceased or may have forgotten about their investments. Register with us so that we may do a database check.

In order to contact me, please go to my website www.fundtracers.com and contact me through that site or mail me at fund.tracers@gmail.com .

Some Nepalese people who are holding shares and stocks in India but the same are unclaimed. The dividends on such accounts have not been claimed for a long time.

You could say these shares in Indian companies may have been forgotten by the shareholders/ or their families; they may have forgotten to inform the companies of their change in address; the shareholder may have forgotten to tell his/her family about such investments; but the fact remains that these shares are unattended - the corporate benefits on them like dividends, bonuses are unclaimed for many many years.

Generally the investments were done by people from affluent families- the main reason being the political & socio-economic set up in Nepal since mid 19th century to mid 20th century while Ranacracy prevailed. People related to the Rana families, senior officials in the administration, Gorkha army as well as Bsiness people mainly held investments. Some of the names are Nrip Jung Rana, Achyut Raj Shreshtha, Bada Maharani Deela Kumari Devi (wife of Bhim Shumshere), Sri Raj Bahadur Chipalu, Purna Rajya Lakshmi, Narendra Singh Alay, Krishna Panta, Sarat Kumari Ghosh, Durga Rimal, Vishnu Chintaman, Kharidar Singh Man, any many more who still hold investments in Indian companies.

The shares continue to be in their names; these investments must have happened atleast 60 years back. Chances are that the shareholder may have been deceased or too old. The dividends on such accounts is outstanding for many many years. The shareholder/ legal heirs would be entitled to the same.

In order to contact me, please go to my website www.fundtracers.com and contact me through that site or write to me at fund.tracers@gmail.com for more information.

Unclaimed shares belonging to European families in Indian Companies

Some European families are holding shares and stocks in India but the same are unclaimed. The dividends on such accounts have not been claimed for a long time.

You could say these shares in Indian companies may have been forgotten by the shareholders/ or their families; they may have forgotten to inform the companies of their change in address; the shareholder may have forgotten to tell his/her family about such investments; the shareholder themselves may be deceased and the family members may nothave pursued the succession proceedings; but the fact remains that these shares are unattended - the corporate benefits on them like dividends, bonuses are unclaimed for many many years.

Some of the names are Barreto Luis Norberto Sebastiao of Portugal, Charles Goldstein of Switzerland, Chritian Hover, E Holm Hansen, Michaela Hover, Sophus Rudinger, Vibeke Lund of Denmark, Evie Toyberg Frandzen from Sweden; there are many many more from Germany, France, Malta Etc.

The shares continue to be in their names; these investments must have happened atleast 60 years back. Chances are that the shareholder may have been deceased or too old. The dividends on such accounts is outstanding for many many years. The shareholder/ legal heirs would be entitled to the same.

We can help you in claiming the shares if the shareholder is deceased and you are a legal heir.

In order to contact me, please go to my website www.fundtracers.com and contact me through that site or write me a mail at fund.tracers@gmail.com for more information.

Some British people who are holding shares and stocks in India

Some British people who are holding shares and stocks in India but the same are unclaimed. The dividends on such accounts have not been claimed for a long time.

You could say these shares in Indian companies may have been forgotten by the shareholders/ or their families; they may have forgotten to inform the companies of their change in address; the shareholder may have forgotten to tell his/her family about such investments; but the fact remains that these shares are unattended - the corporate benefits on them like dividends, bonuses are unclaimed for many many years.

The shares continue to be in their names; these investments must have happened atleast 60 years back. Chances are that the shareholder may have been deceased or too old. The dividends on such accounts is outstanding for many many years. The shareholder/ legal heirs would be entitled to the same.

In order to contact me, please go to my website www.fundtracers.com and contact me through that site or write me a mail at fund.tracers@gmail.com for more information.

Further to my post of June 1, the following are some of the people who still have assets like shares and securities in Indian companies in India.

Probably, the families themselves are not aware about them.

1. Lily Margarett Caves
2. Mary Helen A Shillingford
3. C A N Shillingford
4. Lady Freiny Dunjibhoy Bomanji
5. Mehroo J C Jahangir

We at Prime Asset Tracers can help families with tracing such assets. There would be more such families, whose fathers or grandfathers worked in India either as promoter/managers of Trading companies or as Civil Servants.

Visit our site www.fundtracers.com

Contact us at our email ID fund.tracers@gmail.com or
primeassettracers@yahoo.co.in

for more information. Confidentiality assured.

There have been lot of features that have appeared in the local press about Billins of pounds lying unclaimed in bank accounts and also unclaimed shares and also monies where floatation benefits have not been claimed or dividends etc are not claimed. There are Agencies in UK that are rendering great help in uniting the ignorant people with their rightful dues.

But an area that has been not looked into is the `unclaimed assets' of local people here lying abroad. Like in India. I have experienced this situation and I know there are people like me who undoubetedly have unclaimed assets in India.

Unfortunately, the systems and procedures in India are still not in place regarding unclaimed monies. They dont even have a database on the subject. There would be many more people who would be entitled to unclaimed monies in India. Reason being, Britons were running not only the business enterprises in India but also were occupying senior positions in the administration and army and the civic society. And they did invest their monies in the Indian stock markets.

Claiming the same will involve legal issues and prodedures. We can help British nationals in claiming their family assets in India if they write to us with details.

Visit our site www.fundtracers.com

Contact us at our email ID fund.tracers@gmail.com or
primeassettracers@yahoo.co.in

for more information.
Confidentiality assured.