Market Views from our Chief Mentor Mr. Vijai Mantri

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Dear Investors,

We believe that challenges which global economy facing in form of rising inflation and interest rates are not creation of immediate past events but seeds were sown much earlier.

China supplied products at much cheaper prices for last 3/4 decades and created deflationary environment. Post-covid, many countries are now looking at creating an alternative to China. This source can be their own land as well.

The other reason is narrative created around ESG and clean energy. This created a situation where new investment into traditional energy like thermal, coal, nuclear, etc. and metals has almost stopped. The world is paying price for this ‘activism’.

We believe that India will not be impacted much from it beyond some reaction because of headline noise.

We also believe that in every equation, there are winners and losers and no one side can remain winners and losers on continues basis. Things will fall back into some sort of equilibrium. This has happened in past and will happen in future as well. Oil moved from high to negative to high again! Not necessarily benefiting oil exporters always.

Rising interest rate is a great news for domestic fixed income investors be it FDs or debt MFs.

Investors may allocate money into select corporate bond funds/ PSU Bond Funds and Gilt Funds over in 3/6 months!

Investors may also look at investing into following equity funds

– Banking and Financial Services Equity Funds

– Auto Sector Fund (only one option)

– Flexicap and multicap funds.

Value will start emerging in IT and Pharma in next few months.

Avoid allocation into small and mid caps for few months.

Happy investing !

Vijai Mantri

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Explore Sanjeevani : The Self-Serve Tech Platform

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Sanjeevani is Jeevantika’s state of art communication and process management platform. It encompasses solution to all possible hurdles faced by the shareholder.

The primary idea of Sanjeevani is to heal two basic problems.

  1. It understands Shareholder’s unique problem
  2. Offers customised solution for every unique problem

It’s a self-serve tech platform which also offers customers option to Upgrade for Premium Services upon request by the Shareholder.

Let’s explore Sanjeevani in a step by step manner to understand its features and its innate ability to both process shareholders unique problems and simultaneously offer customised solutions.

Step 1: Fill Registration Form


Step 2: Post Registration, it will ask for you to Login with your mobile number and your password.


Step 3: After logging in, complete the Personal Details.


Step 4: After completing personal details, fill the company details by selecting the company from the drop-down list of companies. Fill the number of shares that you hold. Complete the set of relevant questions asked for determining your potential problems. You can add more than one Company.


Step 5: After completing the registration page, you will be directed to the Dashboard. All your combined work with completion status is reflected on this page thru the tracker. Click on the name of the company on the top of the tracker to further explore Sanjeevani.

Step 6: This section covers all relevant details required to be furnished, to complete the requisite formats of the RTAs to process the application. This unique platform offers you to create and maintain your communication with both Company and RTA thru its Create Letter section.


Step 7: After filling relevant section as required in the last step, you can download your completed formats ready to be printed and sent to the RTA/Company/IEPF. The tracker on the Dashboard will keep track of your completed work and will keep you updated on the amount of work completed.


Step 8: Keep track of your tracker to complete your process and reclaim your shares. That’s how easy we have made it. So, let’s begin. Register and start with the process of reclaiming your shares.

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Understanding process of retrieving Unclaimed and Lost physical share certificates

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We get a lot of calls from concerned shareholders about understanding the process for retrieving their shares from RTAs/Company and IEPF.

It’s a cumbersome process which requires alacrity and attention to details while corresponding with the RTA/Company or IEPF. The process tests your patience, both in terms of time and assembling of paper work.

Shareholders need to understand that the initiation of process requires them to first identify the nature of their potential problems. Shareholders who live in denial, are often the most who are harassed by the stringent process.

For any shareholder who intends to work by themselves needs to understand two aspects of the process, viz. Flow of communication with RTA/Company/IEPF and Time taken for processing of communication.

Flow of Communication

Disclaimer: The images are for illustration purpose only. Actual flow of communication and time taken for processing communication might vary with different Registrar and Transfer Agent, Company and IEPFA respectively.

The above flow chart depicts the process and flow of communication with respect to the duplicate issue of shares and also encapsulates the process of retrieval of shares from IEPF. The flow of communication might differ with respect to different RTAs but the line of thought might remain the same.

The success of any correspondence depends on the understanding of the issues by the respective shareholder. The shareholder must understand that it is not the prerogative of the RTA to make you understand the discrepancies with the respect to his/her case.The RTA will keep rejecting the documents if it does not adhere to its language and format.

These flow of communications makes the process cumbersome and complex and requires a lot of patience.

Time taken for Processing Communication

Disclaimer: The images are for illustration purpose only. Actual flow of communication and time taken for processing communication might vary with different Registrar and Transfer Agent, Company and IEPFA respectively.

The above image depicts the cumulative time taken to process the correspondence between the RTA/Company/IEPF and shareholder. Timelines might differ with different RTAs with respect to complexity of cases, with simple matters taking less time than complex matter.

These timelines portray how much time a shareholder needs to invest to reclaim his investment. When it becomes a never-ending saga, usually a lot of people lose interest in the middle of the process.

Through our Self-serve tech platform “Sanjeevani”, we have tried to address both these issues by tracking both flow of communication and managing timelines.

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Understanding issues pertaining to Unclaimed and Lost Physical Shares Investments

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There are millions of shareholders whose yester year savings are lying unclaimed in the form of physical share certificates.

Pursuant to latest circulars by SEBI to prevent potential fraud, several measures are taken including banning of transfer of Physical Share Certificates and subsequent transfer of shares to IEPF (Investor Education Protection Fund) Account due to unclaimed dividends for past consecutive seven years.

These shares can now only be traded or sold once they are either converted into dematerialised form or retrieved from IEPF Account into personal demat account.

But it sounds easier said than done.

There are range of issues which acts as hurdles for shareholders to dematerialise these shares. Let’s list those issues and discuss them: –

1. KYC Updates

Recent circulars of SEBI have mandated shareholders who hold physical Share Certificate to update their PAN Card, Address Proof, Bank Detail, Email ID with their respective Registrar and Transfer Agents (RTA). It is feared that non-Compliance might result in non-receipt of future dividends, annual reports and subsequent transfer of shares to IEPF Account.

2. Name Correction

One of the major issues with respect to establishment of identity of the shareholders is the difference in spelling or change of name or surname or all of them.

When these shares were applied for in IPO or purchased from open market, there were not enough stringent measures to crosscheck transfer deeds with ID Cards. With stricter norms today, concerned authorities asks for similarity in the names on all ID Cards.The Shareholders have to follow stringent procedures to establish one’s identity. Further, major difference in names call for Gazette notification and paper advertisements.

3. Joint ownership of Shares

One of the major problems faced by joint holders is that all joint holders have to simultaneously give consent and comply with the formats of the RTAs w.r.t KYC Updates, Name Correction, Duplicate issue of Shares and retrieval of shares from IEPF Account. The situation worsens when one or more Joint Shareholders have passed away.

4. Signature Mismatch

This is a common anomaly faced by almost all shareholders. Flow of writing, age related issues and passage of time makes way for change in signature.

Shareholders signature should be updated and should ideally match with their signatures in their bank accounts, Pan Card and Demat account.

5. Lost Share Certificates

Such situation arises when the shareholder has lost his/her shares to negligence or to wear and tear. Shareholder can get duplicate shares issued with respective RTA’s after complying with their requisite formats of indemnity and affidavit and furnishing one or more sureties. There are several layers of scrutiny w.r.t to the papers submitted by the Shareholder.

6. Succession 

In case of death of the Shareholder, who has passed away without leaving a Registered Will, the Legal Heirs have to obtain Succession Certificate/ Probate of Will/ Letters of Administration from the competent court to establish genuine claims over the shares.

The Succession Certificate from the court is only required when the value of shares exceeds Rs. 2 Lakh. For cases where value of shares does not exceed Rs. 2 Lakh, SEBI allows the Legal Heirs to claim these shares after completing the due process of respective RTAs.

7. Transmission

Post establishing the status of Legal Heirs, the Legal Heirs can apply to Company/RTA for transmission of shares after complying and submitting requisite formats with the RTA.

8. Investor Education Protection Fund (IEPF)

Pursuant to recent circulars by SEBI, any Shareholder who has not claimed consecutive dividends for past 7 years, will have their shares transferred to IEPF Account.

IEPF has their own formats and procedure to comply with.

Though the regulatory bodies have established stringent filtering/screening process to stop fraudulent claims of Shareholders, but on the contrary it has also increased the problems of genuine Shareholders. Rather, in some matters it borders on the lines of harassment.

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