During the 2020 COVID lockdown, Mumbai resident Priya Sharma made a life-changing discovery. While reviewing her late grandfather’s will, she found abandoned shares from 2004. Her grandfather had purchased 500 shares of the blue-chip construction company Larsen & Toubro (L&T), which had been left untouched and appreciated significantly over time.
As reported by First Post, Priya didn’t just inherit the original 500 shares. Due to bonus shares and stock splits, her holdings increased to 4,500 shares. Stock splits enhance liquidity by increasing the number of outstanding shares, while bonus shares are additional shares given to existing shareholders at no extra cost.
The value of these shares had risen dramatically, amounting to approximately Rs 1.72 crore. However, accessing this wealth was a complex process. Now living in Bangalore, Priya faced numerous hurdles, including obtaining her grandfather’s records and initiating the probate process in Mumbai.
Priya sought assistance from Share Samadhan, a company specializing in recovering lost investments. They handled the extensive paperwork, including verifying her grandfather’s documents and updating Priya’s KYC (Know Your Customer) information. An affidavit was necessary to address discrepancies between the name on the share certificate and formal paperwork.
Due to the high value of the shares, L&T required a surety bond and a financial guarantor. Priya enlisted the help of a distant relative for this. After more than a year of persistent effort, Priya successfully retrieved the shares, securing a duplicate certificate from L&T.