Priya Sharma Finds Hidden Fortune in Grandfather’s Long-Forgotten L&T Shares Amid Pandemic
Priya Sharma Finds Hidden Fortune in Grandfather's Long-Forgotten L&T Shares Amid Pandemic
During the COVID-19 lockdown, Priya Sharma uncovered her grandfather’s long-forgotten investment in L&T shares, which had grown significantly in value over 16 years.
Priya Sharma, a resident of Bengaluru, has experienced a remarkable financial windfall after uncovering a substantial inheritance left by her late grandfather. During the COVID-19 lockdown in 2020, Sharma discovered an old investment in Larsen & Toubro (L&T) shares made by her grandfather, which had appreciated significantly over the years.
In 2004, Sharma’s grandfather, who was a businessman in Mumbai, purchased 500 shares of L&T. Due to stock splits and bonus shares granted by the company, these 500 shares eventually expanded to 4,500 shares. By 2020, the value of these shares had surged to ₹1.72 crore, representing a nine-fold increase over 16 years.
The discovery occurred when Sharma, confined at home during the pandemic, decided to review her grandfather’s will. She came across the shares, which had been untouched and had grown substantially in value, dramatically changing her financial situation overnight.
However, claiming the inheritance involved several challenges:
Probate Necessities: Since her grandfather’s assets were located in Mumbai, Sharma had to undergo the probate process, which involved court verification and acceptance of the will.
Document Access Issues: Sharma faced difficulties in retrieving the original share certificates and other necessary documents.
Company Procedures: L&T required extensive documentation and verification, including affidavits, financial surety, surety bonds for duplicate shares and Know Your Customer (KYC) information.
To tackle these challenges, Sharma enlisted the help of Share Samadhan, a firm that specializes in resolving inheritance and share-related issues. “Given the substantial number of shares and the absence of original documents, the process was complicated, requiring multiple verifications by the company. Additionally, probate of the will was necessary,” Share Samadhan explained to news agency.
After approximately a year of following all required procedures and with the assistance of Share Samadhan, Sharma successfully met L&T’s stringent requirements and gained control of her inheritance.
Despite the bureaucratic obstacles, Sharma ultimately claimed her inheritance, making her a crorepati. This story highlights the potential benefits of long-term investments and the importance of meticulous estate planning and documentation.
