Chandigarh resident Rattan Dhillon recently uncovered 37-year-old physical share certificates of Reliance Industries Ltd (RIL) worth ₹12 lakh while cleaning his home. Originally purchased in 1988 at ₹10 per share, stock splits and bonuses had increased the total to 960 shares.
Frustration with Lengthy Process
Initially eager to digitize the shares, Dhillon soon realized the process was fraught with bureaucratic obstacles. He would need a legal heir certificate, a succession certificate, and clearance from the Investor Education and Protection Fund Authority (IEPFA), with the entire process potentially taking years. Disheartened, he decided to abandon the effort, stating on social media that the excessive paperwork made it impractical.
Social Media Reactions and Advice
His decision sparked widespread debate on social media. Some users sympathized, citing their own struggles with lengthy bureaucratic procedures. Others, however, encouraged him to reconsider, arguing that the IEPFA process was shorter than he believed. Suggestions ranged from hiring professionals to handle the paperwork to verifying if additional shares had been credited over time.
A Call for Simplified Processes
Dhillon’s experience reignited discussions on the need for a more efficient system to handle such cases. While he has chosen to retain the physical share certificates for now, many hope he reconsiders and navigates the process with expert assistance rather than letting the valuable investment go to waste.
