Mumbai News: Man With Same Name Claims Shares Of Sa Re Ga Ma India Ltd With Forged Death Certificate & False Affidavit; Arrested

Mumbai News: Man With Same Name Claims Shares Of Sa Re Ga Ma India Ltd With Forged Death Certificate & False Affidavit; Arrested

He was produced in court, which sent him to police custody until December 11. As per the complainant, Vikram Subhashchandra Shah from Borivali, he jointly holds 6,430 physical shares of the firm since 1999.

Megha KuchikUpdated: Saturday, December 09, 2023, 01:16 PM IST
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Mumbai: On the run for 28 years, man held in fake share certificate case | Representative image

The Mumbai EOW (Economic Offences Wing) has arrested a person for attempted claim on shares of M/s Sa Re Ga Ma India Ltd of a holder with a similar name by submitting the latter’s forged death certificate and a false affidavit. The EOW team travelled to Ahmedabad and arrested Vikram Shankarlal Shah from his office.

Sent to police custody until December 11

He was produced in court, which sent him to police custody until December 11. As per the complainant, Vikram Subhashchandra Shah from Borivali, he jointly holds 6,430 physical shares of the firm since 1999. In 2021, when he contacted the share transfer agent to convert the physical shares into the Demat form, he found out that they were deposited in the Investor Education and Protection Fund (IEPF) as someone had made a claim.

The complainant lodged a complaint with SEBI Scores

Initially, the complainant lodged a complaint with SEBI Scores. The inquiry revealed that Vikram Shankarlal Shah tried to wrongfully claim the shares with forged documents. A team led by police inspector (EOW, Unit-7) Nitin Gije travelled to Ahmedabad.

The case is being investigated

The case is being investigated under the supervision of Joint Commissioner of Police (EOW) Nishith Mishra and Deputy Commissioner of Police-1 (EOW) Sangramsinh Nishandar.

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