Shares bad delivery
aryan malhotra
(Querist) 09 May 2012
This query is : Resolved
Dear Sir,
some years back my father purchased the shares of shree cement 200 no's from a broker. The shares delivery was in the name of fair growth finacial services, a company of Harshad Mehta. Now the shares cannot be transferred to our name as the comapany says bad delivery and wait for cour orders. When my father purchased them after paying the full amount to the broker and took the physical share certificates of the same , how can this be called a bad delivery.
Kindly advise. if a civil suit has to be filed then also suggest
aryan
ajay sethi
(Expert) 09 May 2012
fairgrowth financial services was involved in the scam . hence all shares belonging to fairgrowth had been attached by custodian . special court was set up for trying thosse involved in scam .
if you are a bonafide purchaser of value you have to prove the same . then only will company transfer the shares
aryan malhotra
(Querist) 09 May 2012
I have the bill for the purchase of shares well before the scam was unearthed/ discovered.
how to establish bonafide purchase other than that and where to complaint for the same.
Shonee Kapoor
(Expert) 09 May 2012
It is difficult to get the shares in your name now.
The company is attached and it would take huge amount of time and follow up to get the shares transferred to your name.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
aryan malhotra
(Querist) 10 May 2012
what is the way out. the share at the time of purchase were valued at Rs. 25000/- and now the value is Rs. 6 lacs. Kindly advice and from where to start
