In August 2022, the Supreme Court (SC) first issued notices on a public interest litigation (PIL) that noted senior counsel Prashant Bhushan had helped me file on the need for a centralised database to pay back unclaimed funds lying dormant in pools with various financial regulators and government agencies
The Supreme Court-appointed expert committee investigating the volatility in Adani group stocks has endorsed the need to create a Central Unclaimed Property Authority (CUPA) “to bring sharp focus to the area of unclaimed properties such as securities, dividends and bank deposits belonging to deceased investors”.