Delhi Man Turns Millionaire Overnight With Rs 60 Lakh Worth Reliance Shares In Inheritance
Anil Raghu (name changed), a salaried professional from Delhi, found himself in possession of shares of Reliance Industries Limited (RIL) after they were passed down to him by his uncle. His uncle, who lived in Mumbai and had no children of his own, left all his assets, including the RIL shares, to Raghu.
We all dream of being rich without really having to 'work hard' for it, right? We all wish that we were born in a rich home or somehow got to know that our ancestors have a stash full of money that will solve all of our life's problems. One man lived it! Well, not so much as a big treasure but a Delhi man was left pleasantly surprised when he came across some old investments made by his uncle.
According to the Times Now report, Anil Raghu (name changed), a salaried professional from Delhi, found himself in possession of shares of Reliance Industries Limited (RIL) after they were passed down to him by his uncle. His uncle, who lived in Mumbai and had no children of his own, left all his assets, including the RIL shares, to Raghu.
According to an interview with Times Now Digital, Vikash Jain, Co-Founder & Director at Share Samadhan, helped Raghu recover shares mentioned in his uncle's will. Jain described the process, explaining that they conducted thorough research using Raghu¡¯s uncle's details, which led to the discovery of additional shares in his name. However, obtaining the Probate of Will in Raghu's favor proved challenging. After reaching out to all the companies for shareholding details, they proceeded with the Probate of Will. Raghu's family lawyer supported this process after a legal battle in Mumbai, ultimately providing the Probate.
Delhi Man Turns Millionaire Overnight With Rs 60 Lakh Worth Reliance Shares In Inheritance | Freepik
Approximately Rs 60 lakh shares
But the battle wasn't over. Share Samadhan had to liaise again with the registrar of Reliance Industries Ltd to fulfill requirements for duplicate and transmission of shares. Due to the substantial value of the shares (approximately Rs 60 lakh), meticulous scrutiny of documents and personal verification of the claimant were insisted upon by the company. There was a discrepancy in the name on the share certificate and the death certificate of Raghu¡¯s uncle. Despite it being a clerical error, providing proof for the difference in name was challenging. Eventually, an Affidavit for the difference in name was accepted by the company.
All formalities, including personal verifications and arranging a guarantor for the duplicate issue of shares, were completed. Although securing a guarantor proved difficult due to the high stakes involved, Share Samadhan managed to arrange one, leading to the issuance of shares in Raghu's favor. This was a significant moment for Raghu, both financially and emotionally, as his uncle had entrusted his hard-earned investments to him through the will.
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