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A relative of mine has some share certificates ( ) of obscure and inactive companies of the 80s and 90s. He never took any interest in those and now wants me to find out what is the status of those stocks. Here is a list of companies of which he has the share certificates:
Uniplas India Limited
Nova Steels (India) Limited
Nova Iron And Steel Limited
Orkay Silk Mills Limited
Regency Hospital Limited
UBE Industries Limited
As you can see, none of these are active on the stock exchanges.
I tried researching a bit about these companies on the web but there is hardly any information except that they are not traded anymore. A couple of them have also gone belly-up.
I understand that mostly the shares of these companies are thrash, but my questions are:
1. Is there any possibility of any sort of monetary recovery?
2. In case a company exists but is not traded on the stock exchanges, is there any possibility of selling the stocks?
3. Will writing to the registrars of the company be of any use? What will I write to them??
Thanks.
PS: Any info of any specific company that can be helpful is really welcome. Thanks.
Thanks Alchemist. Will suggest to go with the approach you have mentioned. In the mean time, if you get info about any of the other companies, I will really appreciate it.
The Bombay High Court has issued winding up orders to Orkay Industries Ltd (OIL). The workers and other creditors, who had alleged misappropriation of funds, have been directed to submit their allegations to the official liquidator.
My brother had similarly bought shares some 16 years back. He was in then in defence force; so he was transferred quite a no. of times- as a result even if some update were sent he wouldn't have received it.
The shares bought then were: Arihant threads
and Century International Ltd.
I have tried to do my own research but could not find information re: it. Can he get any of the money back which he invested.
By the way if he had only invested in some blue chip stock then!!!
The full name of the Co. Is Century International finance ltd.
dead for sure.
it was renamed cyberspace infosys.
Quote:
In 1998, Johari was among the first to convert one of his companies -- Century Finance into Cyberspace Infosys, in order to cash in on the Information Technology (IT) boom - the name itself was a crude attempt to ride on the Infosys brand and also play on the cyber mania.
Quote:
Johari was the promoter of Cyberspace Infosys, a company that was the darling of the stock markets until the information technology (IT) bubble burst and his operation emerged as one large, pre-meditated scam
My father found an old file with share certificates of companies he had invested in. I am trying to find out the status of these companies. Any information / advice on any of these companies is appreciated:
1. Universal Luggage Manufacturing Co Ltd
Moneycontrol has a basic entry for this but company does not appear on BSE or NSE
2. Modern Insulators Ltd
Moneycontrol has a basic entry for this and BSE site says "Suspended for penal reasons"
3. Premier Vinyl Flooring Ltd
Moneycontrol does not even list the registrars. BSE site says "Suspended for penal reasons". BSE site also does not list any company information
4. Tri-Star Soya Products Ltd.
Moneycontrol has a basic entry for this and BSE site says "Suspended for penal reasons"
5. Bliss Chemicals and Pharmaceuticals Ltd
A google search shows that there was an open offer for this company and the company later became "Bliss GVS Pharma" Ltd. My father did not respond to the open offer. Are his old shares valid? Will he be issued shares for "Bliss GVS Pharma"?
Aristocrat Luggage was merged with VIP Industries, which is listed on both NSE and BSE.
Quote:
On June 29, 2007, the board of directors transacted the following subject to necessary provisions and approvals:1. Considered and approved the draft of the scheme for the proposed amalgamation of the company and Quality Plastics with VIP Industries.2. Approved that under the proposed scheme of amalgamation, one fully paid up equity share of Rs 10 each of VIP Industries be issued for every two equity shares of Rs 10 each of the company.3. Approved that the appointed date of the proposed scheme of amalgamation shall be April 1, 2007
Somebody mentioned Orkay, Maybe a lot of members here don't know that once upon a time Orkay along with Reliance, were blue chips, Once the only competitor to Reliance, Holding both these shares in once portfolio was a matter of pride for any investor, but that as I mentioned was Once upon a time....
Orkay is dead and gone, It is this very nature of promoters, that makes me suspect everyone, Kapal Mehra of Orkay was a God those days, A wealth Creator, Another Ambani in the making, all fizzled out, There have been many Satyam's in the past, unfortunately they were never bailed out as was Satyam, resulting in erosion of Innocent investors wealth.
Sorry brother Jatan, you can't do anything with Orkay
Interesting... thanks for insightful information marketmover. As for Orkay, I had asked about it on behalf of a relative. I am sure the experience will be a learning one.
Inactive/Dead Companies
) of obscure and inactive companies of the 80s and 90s. He never took any interest in those and now wants me to find out what is the status of those stocks. Here is a list of companies of which he has the share certificates:
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