Sir, My father, Dwarkadas was holding 1000 shares of Rs 10/- each of M/s Indusind Bank Limited allotted through amalgamation of Indusind Enterprises & Finance Ltd. (IEFL) with Indusind Bank Ltd. (IBL) vide registered folio no 0013690 & new folio 00913690. On getting informed the shares are already given to fraudulent person by giving forged documents. To my shock the said RTA said that the duplicate shares have already been issued and dematted. Worried about the illegal claim of my shares and negligence on part of RTA/Company officials, I approached SEBI officials and registered a complaint vide registration number SEBIE/MH22/0007950/1. In response to the complaint a letter dated 11.07.2016 from Link in time, RTA of the company was received stating that the duplicate shares was issued by RTA with proper due diligence duly enclosing the copy of the forged documents provided by fraudulent person. It was noticed that my father signature was forged and the shares were fraudulently claimed by creating a fake address of Surat by M/s Link Intime India Pvt Ltd., ignoring the verification of signature and address for authenticity. The fraud is more glaring from the following fact.
1. The fact is that I have already submitted said letter dated Aug 29, 2003 and Link Intime / Company Officials are very well aware about the shareholder is deceased and RTA responded on 27/09/2003 and acknowledged that RTA had received death certificate of shareholder and asked to provide us follow transmission process then it is confirmed that RTA are very well aware about the demise of shareholder then why they have issued duplicate share certificate(s) to fraudulent person without checking and verifying past history of communication received from shareholder.
2. Can deceased shareholder claim for duplicate shares ? Kindly look into whether this types of fraudulent activities done my some fraudulent person with malafide intention and company / RTA is keen to understand the situation and even not bothered about loss of hard earned money of investor.
In spite of such glaring evidence of fraudulent claim by fraudulent person with active connivance of M/s Link in time pvt Ltd & M/s Indusind Bank, SEBI officials did not act diligently and disposed off the grievance with the remarks “ Your complaint alleges Fraudulent transfer of shares based on fake documents/signatures etc. It is not within SEBI's mandate to resolve dispute relating to forged documents/signatures. You are advised to appeal to the Company Law Tribunal to take up the matter with the company .In case you intend to seek compensation from company for any loss suffered as a result of such transfer, you are advised to approach the competent Civil Court. You may also approach the Police authorities for registering your complaint.”. Since “SEBI is a statutory regulatory body established to monitor and regulate the Indian capital and securities markets while protecting the interests of investors” it was our legitimate expectation that SEBI would recover my shares and protect us from such fraudulent acts Sir, I am is of above 60 years of age with health complications and not in a position to run helter skelter in search of justice. It is our fortune that your high office is accessible to protect helpless people like me from falling prey to such fraudulent acts in the system. It is earnestly requested to kindly intervene and do justice.
Yours patriotically
Choithram Dwarkadas Vatwani Was this information helpful? | 
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