Common Sense

Catching of a gang of fraudsters....


1. Introduction


Srikanth, an intelligent Bank Officer was working in his Bank. It was a hot afternoon and he was exhausted. He was about to go for lunch, when a person came....


He could not go for lunch without attending to the client, even though it was lunch hour. He asked the person in what way he could help. The client who was a not-so educated (may be  a matriculate failed) handed over three  letters, which were neatly typed and bearing signatures below of the customers. Srikanth asked the person whether he was working for a stock broker, as it was common for brokers to send such letters on behalf of their clients, the person nodded his head. Srikanth, who was in a mood to go for lunch, went through the letter fast and as per the request handed over delivery instructions for "Demat Account" to the bearer of the letter, after checking the signatures.


Demat Account is an account, which is opened to keep shares of different companies, which are purchased and owned by the account holder. These shares can be either purchased through a broker from stock market, or get the shares contained in physical share certificates converted into demat form. Even companies, when money is paid for shares, allot shares in demat form and credit the demat account. Delivery Instructions, which the incumbent had come to obtain are like a cheque book.In a cheque Book you write the name of the person and the amount, the Bank pays cash, likewise, if delivery instruction is filled in with signatures, shares from one Demat Account can be transferred to another Demat Account in any other Depository Participant (like a Bank for keeping money, Depository Particpant keeps the shares for a small fee). 


After handing over the delivery instructions book to the person, Srikanth went for lunch. Later on as usual he worked throughout the day and at the dusk he went home. It was quite a normal day.

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