Omnath Garg | views of citizens on CSR

L&T and Bharat Electronics companies are only companies who have intimated me about non cashed dividends warrants before their transfer to govt.of india investor protection fund.

If all companies adopt and emulate it, it will go a long way to improve their image, and also help the needy genuine investors to get back due by way of lost/misplaced/non cashed dividend warrants.It is of paramount importance that all companies after expiry of dividend warrants should immediately inform the shares holder with all details of year, folio no.and amount so that investor can request and confirm and get back his due.

Further, all companies are bound by Govt. of India, RBI, SEBI, to transfer the dividednts into the shares holder bank accounts by down loading bank details from dps.

Unfortunate part is that some companies are still ignorant and even tata companies are sending physical dividends warrants through dak, which sometimes are lost in dak and concerned shares holders are put to great trouble and loss of their due dividend money.

All companies should put their email addresses alongwith their registrars on each press communications, and also annual reports, to enable the shares holders to take up pending matters with the companies.

Some companies donot send their annual reports, although they show it to have sent the reports, so the annual reports should either be sent through couriers or through under postal certificate of posting.

Shares pending for transfer with companies are although punishable with fines, but seldom this provision is implemented, so the companies act provision in this regard should be enforced, and otherwise it should be adopted by all companies to clear several years pending transfer cases and also become internet active, and donot indulge in paper correspondence.

All companies promoters preferential allotments of shares should be stopped forthwith because it is at the cost of minority and otherwise general public investors.

Inflated,cooked balance sheets should be punishable with fraud,forgery and criminal punishments.

Insiders trading sale and purchase should be reported by companies to press,bse/nse/sebi on the same day of sale/buy of their shares.

all loans and advances to the promoters other companies should be banned, because at times they become bad debts, and by and large they totally thrive on the infrastructure of the promoters public limited companies, and they make huge gains when they merge it with main companies, and the small investors are thus deprived of the benefits and loot of the parent companies resources.

conflicting interests of business with main parent companies by promoters generally deprive main companies and promote promoters own personal companies and as such it should be totally banned.

omnath garg

10 kailas 50 peddar road, mumbai 26 mobile 9322926792 omnath@avantika.info