'Enemy' shares to be dematerialised Office of the Custodian of Enemy Property holds both immovable property and securities; dematerialisation is expected to be completed in a few months A shareholder whose physical share certificates arguably constitute some of the longest-held investments on Dalal Street is finally dusting these for dematerialisation, more than 40 years after the wars that resulted in their transfer of ownership. The owner of these certificates, the Office of the Custodian of Enemy Property, is entrusted with properties that include share certificates seized after the 1962 war against China and those against Pakistan in 1965 and 1971. Most of these holdings are said to be of people who were Pakistani nationals at that time. Two people familiar with the matter said dematerialisation of these assets was already underway. While they did not comment on the value of the securities, these are reportedly worth about Rs 10,000 crore. According to a 1971 estimate, the original value of the holdings was only Rs 29.4 crore. No records were available on the exact holdings. A Business Standard report a few years ago mentioned a number of these - Wipro, Tata Steel, Tata Power, Tata Chemical, Tata Coffee, Tata Engineering, Nelco, Unit Trust of India schemes, Shaw Wallace, United Breweries, Birla Corporation, Grasim Industries, ACC, India Cements, Digvijay Cement, Hindustan Lever, State Bank of Bikaner and Jaipur, State Bank of Hyderabad, NEPA Mills, Poddar Mills, Kohinoor Mills, Phoenix Mills, JK Synthetics, Cipla and Ashok Leyland. The Office of the Custodian of Enemy Property, under the Ministry of Home Affairs, has an office in Mumbai and a branch in Kolkata. It is governed by the Enemy Property Act of 1968. One of the people mentioned earlier said dematerialisation of these assets was likely to be completed "in a few months", adding the move might be aimed at preserving these records, considering the fact that physical certificates would have undergone wear and tear since the Enemy Property Act came into effect. The second person said he had seen a communication in this regard. An official at the Office of the Custodian of Enemy Property confirmed the process was underway. He said the move was aimed at maintenance, adding the office wasn't allowed to divest such securities. "The enemy property shall continue to vest in the Custodian till it is divested by the central government…enemy property can be divested only to the owner or his lawful heir," said an October 2010 government statement, amending the laws governing such securities. "The central government is authorised to direct the Custodian to sell or dispose of enemy properties in such manner as may be prescribed." An email sent to the Ministry of Home Affairs did not receive a reply. Fresh news reports in February this year indicated the ministry had notified rules under the Enemy Property Act to identify and take control of such assets. Other than shares and other such securities, the Office of the Custodian of Enemy Property was also in charge of 2,111 immovable properties as of May 5, 2011, according to a reply in the Lok Sabha. In 2011-12, it received about Rs 40 crore, including "dividend on shares/stocks and income on investments made in government securities and treasury bills". For such land and buildings, district authorities are entitled to retain 1/12th of the income for management and maintenance expenses. 'ENEMY' OF THE STATE Office of the Custodian of Enemy Property holds both immovable property and securities These belong to an enemy country, or companies or people belonging to such a nation Assets were vested with the custodian after the wars of 1962 (with China), 1965 and 1971 (both with Pakistan) Process of dematerialisation is underway and is expected to be completed in a few months The government had estimated the value of the share certificates and properties to be Rs 29.4 crore in 1971 They throw up more than Rs 40 crore only in income every year now, including dividends and rents Shares are said to include those of blue-chips, including Tata Steel, Wipro Value of all these shares is estimated to be over Rs 10,000 crore Source - http://www.business-standard.com/article/markets/enemy-shares-to-be-dematerialised-115041700037_1.html

Foreign nationals did buy shares and stocks in India

Foreign nationals did buy and sell shares in Indian companies. Image of original share certificates of many such companies are enclosed.

As per the certificates, the original allotees/holder were British nationals. The dates range from 1900 to 1963. Subsequently, these shares were sold to others but definitely it established that the foreign nationals esp British did participate in the stock market activity.




Alcock Ashdown & Co Limited

Originally, a British owned company , incorporated under the Companies Act of 1862.
It was originally owned by Turner Morison group and which went into liquidation, in mid 1970s.

One of the yards was situated atBombay next to Mazagon Dock Ltd. (MDL) engaged in ship building and ship repair and other engineering activities. The second yard was situated at Bhavnagar, The Company went into liquidation during the period 1969
to 1974 and was taken over by the govt in 1975
Share certificate dated 16th April 1963 in the name of John Leslie Boyer, Esq & Jeremy William Tait, Esq



The Howrah Sheakhala Light Railway Company Limited

Promoted under the Indian Companies Acts of 1882, the Company was part of the agency House Martin & Company, which later on became the Martin Burn Limited
Share certificate dated 2nd April 1900 in the name of Sir T C Mowden of Heyderabad

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Foreign nationals did buy shares and stocks in India

Foreign nationals did buy and sell shares in Indian companies. Image of original share certificates of many such companies are enclosed.

As per the certificates, the original allotees/holder were British nationals. The dates range from 1900 to 1963. Subsequently, these shares were sold to others but definitely it established that the foreign nationals esp British did participate in the stock market activity.




The New Victoria Mills Co, Limited

Promoted in United Provinces (now Uttar Pradesh) under the Indian Companies Act of 1913.
Share certificate dated 14th May 1943 in the name of James Gordon Esq, of Scotland




The Empire Jute Company Limited

Promoted under the Indian Companies Acts of 1882 and 1910, the Company was part of the agency House McLeod & Company
Share certificate dated 10th September 1934 in the name of Calcutta Discount Co Ltd.




The East Indian Coal Co Limited

The Company was part of the agency House Jardine Simmer & Co.
Share certificate of Pound 1 each, dated 15th April 1909 in the name of Charles Law Biscoe. Note the address of the investor is shown as ``C/o National Bank of India, Calcutta''.




The Equitable Coal Co Limited

The Company was part of the agency House Macneill & Co. Promoted under the Indian Companies Acts of 1882 and 1895, to exploit the coal in Asansol region of Bengal.
Share certificate dated 11th March 1937 in the name of James Macgregor Esq.




Durbhanga Sugar Co Limited

The Company was promoted in financial partnership with the Royal family of Darbhanga, whose other venture were Octavious Steel, British India Corporation and amny more
Share certificate dated 27th April 1943 in the name of Messers Fenchurch Nominees Limited of London. Fenchurch Nominees Limited is a leading Financial investor in the Global Equities market


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Craig Jute Mills and a little story

Craig Jute Mills and a little story


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.

For the benefit of my readers, I have put up an image of the old share certificate.

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!

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Ranas hunt for ancestral treasures

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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भारतीय कम्पनीमा नेपालीको सेयर Investments in Indian companies by people from Nepal

News story as appeared in kantipur, 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 on Kantipur Server: 2006-12-16 21:55:19

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Discovered: A Raj Pistol in an Unclaimed Locker..

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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Unclaimed Money: Banks may end up with Rs 1000 Cr booty

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 ............

for more click on
http://economictimes.indiatimes.com/Unclaimed_Money_Banks_may_end_up_with_Rs_1000_cr_booty/articleshow/2646368.cms

Dividend: Claim It Before It Is Too Late

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, ............

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

http://www.blonnet.com/businessline/iw/2001/07/22/stories/0422d102.htm

http://www.suchetadalal.com/?id=b3f53554-228b-b11f-492e830bc258&base=sub_sections_content&f&t=Unclaimed+dividends+(18+March+2002)

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108 year old share certificate of an Indian Company

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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