" Custodian of Enemy Property " ( Pakistan ) Shareholders of Indian Companies

After the division of the country many share holders became citizens of Pakistan. After 1965 the share holdings of Pakistan based share holders were " frozen " and a Government department " Custodian of Enemy Properties " was created to handle these shareholdings .

http://commerce.nic.in/epactdet.htm

Some of the Pre 1947 companies :-

WIPRO ( then known as Western India Products Limited )
Tata Steel ( Tata Iron and Steel Co. Ltd or TISCO )
Binani Metal Limited of Braj Binani Group ( Earlier Multimetal etc ) Holding Company of Binani Industries Binani Zinc etc
PNB Finance And Industries Limited ( then The Punjab National Bank Limited )
Bharat Nidhi Limited ( then Bharat Bank Limited )
Sukhjit Starch And Chemicals  Ltd . ( Phagwara )

and many more.

There is no useful purpose being served to keep these shares " frozen ". ( Only the promoters stand to gain with no benefit to common investors  ).

http://rareindianshares.blogspot.com/search?q=binani+metal+why+split
http://www.sify.com/news/Office-of-custodian-of-enemy-property-hotbed-of-corruption-news-National-kkxqahdibhe.html

The descendants of original holders in Pakistan should be allowed to trade in these shares. For this purpose a branch office of BSE /  NSE should be opened in Pakistan or a neutral country like Dubai.

http://articles.timesofindia.indiatimes.com/2011-07-14/mumbai/29772360_1_enemy-property-bonus-shares-citizenhttp://articles.timesofindia.indiatimes.com/2011-07-14/mumbai/29772360_1_enemy-property-bonus-shares-citizen

( We feel very proud to recount that after partition , Prime Minister Liaqat Ali Khan of newly created Pakistan had invited MH Premji father of Azim Premji ( of WIPRO ) to come to Pakistan where he was offered the post of Finance Minister of Pakistan . Well ,the senior Premji refused saying that he would not leave his Motherland India  )

http://churumuri.wordpress.com/2009/07/20/when-azim-premjis-father-said-no-and-no-again/