You can still claim your forgotten investments as Rs 60,000 crore are lying unclaimed

You can still claim your forgotten investments as Rs 60,000 crore are lying unclaimedThere are two kinds of investors-one who invest and forget and other who keep a track of everything, from share certificates to mutual funds.
It may not be wise to invest and forget as shares do end up as mere papers and are forgotten.

As per reports, a whopping amount of Rs 37,300-crore is sunk in shares, insurance policies, small savings schemes, inoperative bank, demat accounts, etc and there is Rs 26, 497 crore unclaimed provident fund lying.

If you don’t claim your shares and it is lying untreated for seven years, your dividends and shares are transferred to Sebi's Investor Education and Protection Fund.

Whereas, the unclaimed deposits and money in inoperative bank accounts get transferred to the RBI's Depositor Education and Awareness Fund after 10 years.

Forgetting about investments is not wise for those who get shares from companies as a compensation package.

But there are very few companies that are working to remind you of forgotten shares, as old as 25 years.

Share Samadhan is one of them that is helping people since 2011 in recovering lost holdings and investments.

"The objective is to provide a single-point advisory for issues faced by investors. We have received a largely positive response from clients, some of who were initially hesitant to hand over their documents to the company,” Vikash Jain, cofounder of Share Samadhan, told ET.

Jain along with his partner Abhay Chandalia assigns individual teams to each client.

Share Samadhan has helped solve complex cases and recovered as much as Rs 48 lakh.