In a tale of perseverance and financial reclamation, Inayat Khan, an Indian investor who had migrated to the Middle East, successfully fought for his long-lost Dabur stocks worth Rs 40 lakh. What began as a modest investment in the late 1990s evolved into a multi-fold increase through strategic corporate maneuvers, only to be marred by challenges during the COVID-19 pandemic.
Khan, having invested 100 shares of Dabur in the NRI category, had physical share certificates that transformed into 6,000 shares over a decade due to bonuses and splits by Dabur. Upon his return to India during retirement, disconnected from corporate communication channels, he missed out on financial benefits like bonus certificates and dividend warrants.
Amidst complications from a severe bout of COVID-19, which led to partial paralysis and significant mobility issues in his hands, Inayat Khan rediscovered his old Dabur share certificates. This discovery became a beacon of hope as he sought assistance from Share Samadhan, a firm specializing in reclaiming lost financial assets.
Vikash Jain, Co-Founder and Director at Share Samadhan, detailed the challenges faced in reclaiming Inayat Khan’s assets. The absence of original share certificates and irregular deposit of dividends led to the transfer of shares and dividends to the Investor Education and Protection Fund Authority (IEPFA) under the Government of India.
Navigating through bureaucratic intricacies, the team prepared the necessary documents for a duplicate issue of IEPF claim, considering Inayat Khan’s physical condition. Authentication hurdles, including the thumb impression certification by a bank official or gazetted officer, were overcome. Furthermore, the shift from NRI to resident category added complexity, requiring additional documentation.
Despite challenges, Share Samadhan’s team persisted, resubmitting required documents and addressing concerns raised by Dabur and the IEPFA. In a triumphant conclusion, Inayat Khan’s shares and pending dividends, valued at Rs 40 lakh, were successfully reinstated to his demat account.
This extraordinary journey stands as a testament to resilience, navigating health challenges, bureaucratic hurdles, and regulatory mazes to reclaim financial assets long thought to be lost.
