Common Sense

Catching of a gang of fraudsters....

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3. After Lunch....

 

Srikanth came back to his desk after his lunch. His colleague Rajesh sat next to his desk. As usual both of them started their respective jobs post lunch. 

It would be appropriate to mention here that delivery instructions are of two types.... Off Market and Market.... Off Market instructions are the ones wherein the shares are transferred to the demat account of an individual (transferee), while Market instructions are those wherein shares are transferred to a Stock Broker.

Srikanth suddenly remembered the delivery instructions he had to execute. He took them from the drawer and still he had an hour to execute the same. The execution would have hardly taken 10 minutes. Srikanth just viewed at the delivery instructions. All of them were given by the 'person' who had visited previous day and had collected the delivery instructions books from Srikanth.

Of the delivery instructions to be executed, Srikanth just saw went through them. One set of delivery instructions contained 1600 shares of Hindustan Lever issued by Mrs. Jaqueline. The other contained many shares (scrips) of various companies in different quantities running into 4 pages. The same belonged to Mr. Jagat, who was an interior decorator. While Mrs.Jaqueline's shares were worth Rs.4 Lakhs, Mr. Jagat's shares were worth Rs.12 Lakhs, which were sought to be transferred.

Srikanth saw the instructions before starting for execution. He browsed whether the number of shares existed  in both the clients' (Jaqueline and Jagat's) demat accounts. The same were available for execution and Srikanth was about to start execution of the same.

In the meanwhile his boss called Srikanth. On enquiry, his Boss asked him to attend to an influential client who had come for cash withdrawal. Srikanth attended to the same and finished in 15  minutes and again started work of execution of delivery instructions.

Srikanth saw the delivery instructions carefully again. Everything was in order. The shares mentioned were available in clients' accounts for transfer, the signatures were matching with those on records and what not. As the value of shares (scrips) to be transferred was huge, he showed the same to Rajesh to verify the signatures once again. Rajesh lamented that Srikanth always doubted and he informed that if at all he was in Srikanth's position, he would have executed the same.

The fact that both the delivery instructions were Off-Market delivery instructions, wherein the shares were to be transferred to an individual instead of a Stock Broker came to his mind......

 

 

 

 

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