With 'Mission Money Back' we work to recover lost investments: Vikash Jain, Co-founder, Share Samadhan
'We bring your money back," says Vikash Jain, Co-founder of Share Samadhan. "The trillions and trillions of money of investors are stuck with the financial institutions due to one reason or the other," he added. Here he shares his unique commercial service of helping the hopeless investors in getting their money back. Read more:Devdiscourse News Desk | Updated: 19-11-2019 13:29 IST | Created: 13-11-2019 20:06 IST
Vikash Jain is a qualified Chartered Accountant and Company Secretary with experience in wide range of financial facets of corporate finance, MIS, fund raising, treasury, capital market and investment banking. He had earlier worked with CEAT Tyres (RPG group), KPO-major Evalue serve and Carnation. Vikash's major achievements have been Rs 1700 million fund raising and successful implementation of rights issue for CEAT Tyres besides bringing in new structured product for the company.
In an interaction with Devdiscourse for it's initiative Devdiscourse Connect, he shares the achievements, strategy and future plans of the Share Samadhan and also the contributions of his firm in achieving Sustainable Development Goals (SDGs) 2030.
What are the main areas of operation of your company?
Share Samadhan started its operation with a single motive of "Mission Money Back" for the investor or their family to recover their hard earned money or investment which got lost / forgotten / blocked or scattered in any asset class. With growing income inequalities, our country is having huge wealth which belongs to the family of deceased which has not been claimed by their family who is just roaming around from pillar to post and going through turbulent time of financial mess due to the demise of their earning member.
How, according to you, your organization is contributing to achieving any one or more Sustainable Development Goals (SDGs)?
"Income inequality is a global problem that requires global solutions. This involves improving the regulation and monitoring of financial markets and institutions".
In India the value of investment papers which are just lying in physical paper including the value of unclaimed investment is more than USD 100 bn. We have cases where we have helped families where their parents have made small investment which was not being communicated to their family and due to some contingency those investment remained unclaimed since so many years. Small some of investment has risen to huge investment . In India the value of Unclaimed PF is around Rs 50,000 crore and majority of this sum belongs to bottom of the pyramid, lower wage earners.
We regularly interact with government organizations / regulators and institutions to raise the concern of people at large
So far, what are the main achievements of your organization in line to the SDGs 2030?
Share Samadhan is probably the only company which address the actual pain of the family of the investor who lost their investment document and finding it difficult to retrieve. We have assisted thousands of people to get their hard earned money back. Lot of senior citizens who had their PF unclaimed which is a kind of retirement back up for them. Share Samadhan is currently handling assignment worth more than Rs 100 crore where in it will assist needy people to get back their hard earned money / investment.
What are the recent initiatives your organization has made in line to the SDGs?
We are flexible in taking our fees for lower income group. Many a time we give pro-bono advisory to people who can not afford to pay us. Besides, we have also launched a digital repository system to protect the wealth of people at large.
What is your strategy for further expansion of your organization at national and global level?
We have already expanded to various countries where in we assist all NRI based in various part of globe can approach us for taking our services
Where do you want to see your organization by 2030?
We will have our presence in every pin code of India and will make associate in every country of the globe.
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