85-year-old Turns Crorepati Overnight After Finding His Forgotten 100 Hindustan Unilever Shares, Dividends
There is no magic to become a millionaire overnight and it requires years of perseverance and a patient approach to investing. You may witness the magic of the power of compounding but for that to happen you need a consistent investing approach to generate earnings, not only on the principal amount, but also on the interest earned over the years. The same magic made an 85-year-old man a millionaire after he stumbled upon his old forgotten investments into the shares of Hindustan Unilever.
Amit (name changed) used to work in the Gulf as an Engineer back in the 1960s & 70s. It was back then that a friend of his had recommended him to purchase some shares of Hindustan Unilever. Luckily, Amit listened to the friend and purchased around 100 shares. He later on moved back to India & settled in South India. His children, who are now working in the top corporate firms & are spread out across the globe, have been supporting their father financially to look after his well being & health ailments. These 100 shares had now become around 7000 worth around Rs 2 crore including the unclaimed dividends.
Today Technology Market ResearchDigital reached out to GLC Wealth, one of India’s leading Wealth Recovery & IEPF Claim Advisor who helped Amit in recovering his Hindustan Unilever shares. “It came as a total surprise to the Amit’s family we approached them on social media & informed them about their family’s unclaimed investments worth a few crores. At first this seemed like a fraud/scam, however after going through the background of the firm & its founders the family decided to delve deeper into the matter only to find out that their father who is aged 85 years and living alone in India had invested in shares of Hindustan Unilever many decades ago,” the company said in a statement.
Initially the family found it hard to believe that any such investments could exist as they had never heard about their father investing in stock market actively nor did they have any documents pertaining to the same. Since Amit moved back to India, his address in the company’s records was still of Dubai. Hence, the family never received any communications including new share certificates for bonus & stock splits or dividends.
“GLC Wealth initiated the paperwork for Amit once the family was convinced. It included a lot of due diligence & looking for old records to substantiate Amit’s claim to the company. Because of his old age & health it was difficult to get his signatures verified from the bank. Since the shares were also lost there was a process for duplicate shares that had to be done,” it told Today Technology Market ResearchDigital.
After rigorous follow ups & multiple rounds of documentation, Amit’s family recovered his old forgotten lost investments worth Rs 2 crore at the present day. Now, Amit wishes to use this money to buy himself a new home & take care of his health without being dependent on his children anymore.
