Never dematted

by | Sep 30, 2018 | Dear old dad | 0 comments

Some months later, clearing out Dad’s cupboards, we find a pile of stock certificates. Many are cotton mills, paper companies in South India, 5 shares, 50 shares, dates ranging from 1948, never been through the demat process. Mr. efficient markets, these must be worthless Dad, I say, otherwise they would have been in the system by now. Amongst the papers is a recent letter from South India something, saying the company is buying back the shares, certificates to be brought to Chennai by December 2015, value unknown.  Dad insists I go, reluctantly I fly to Chennai, thinking will stay at the Taj, meet some former classmates, have a bit of fun, sort this out. The address is a grimy warehouse off Mount Road, I find a room with a desk, chair, fan and a middle-aged man (the company registrar) with a notebook. We transact, I receive a check in father’s name for Rs. 6000, thinking I have spent three times that amount on the trip….