In an unexpected twist, Chandigarh resident Rattan Dhillon stumbled upon a valuable piece of financial history while organising his home, when he found a physical share certificate of Reliance Industries Limited (RIL) dating back to 1988. Originally purchased at Rs 10 per share, these shares, after decades of stock splits and bonuses, had multiplied into 960 shares, now valued at approximately Rs 12 lakh.
At first, Dhillon was excited about his discovery but soon grew discouraged after learning about the bureaucratic hurdles involved in digitising and claiming the shares. Seeking advice on social media, he was informed that the process would require a legal heir certificate, a succession certificate and clearance from the Investor Education and Protection Fund Authority (IEPFA)—a process that could take years.
Frustrated, Dhillon shared his reluctance in a post on X (formerly Twitter), stating, "It seems Dhirubhai Ambani’s signatures will go to waste, as I've decided not to proceed with digitising the shares.” He further expressed his disappointment with the lengthy paperwork process, noting that obtaining a legal heir certificate alone could take 6-8 months, while the IEPFA clearance might stretch to 2-3 years.
Recommended For You
"I don’t see the value in investing so much time. India really needs to streamline its paperwork. For now, I’ll simply keep the physical share certificates," he added.
SEE POST:
Final Update: It seems Dhirubhai Ambani’s signatures will go to waste, as I’ve decided not to proceed with digitizing the shares.
— Rattan Dhillon (@ShivrattanDhil1) March 12, 2025
The process is just too lengthy—obtaining the legal heir certificate alone takes 6-8 months, and the IEPFA process reportedly takes 2-3 years.
I… https://t.co/sDt1uPKiqL
However, his post quickly gained traction online, drawing responses from financial experts and investors who urged him not to give up. Many suggested that with professional help, the process might be smoother than anticipated.
Encouraged by the overwhelming support and guidance, Dhillon had a change of heart and decided to proceed with claiming his shares. He also announced that he would donate 50% of the total value to charitable causes once the process was complete.