ITC shares have been getting attention in the stock market for the past few days. In this case, a woman from Ranchi has attracted shareholders of ITC.
Usha Sharma (name changed), a resident of Hatia area of Ranchi, now owns ITC shares worth crores of rupees. In 1970, Usha's father bought 420 shares in ITC. Several years after her father's death, Usha Sharma came to know about ITC's shares held by her father and on further investigation, it was found that 420 shares of ITC were converted to 1,73,880 shares due to bonus and share split. Usha Sharma has requested the company to know that its current value is more than Rs 6 crore.
However, claiming this wealth was not an easy task for Usha Sharma. Since the shares were so valuable, to transfer the shares in Usha Sharma's name, a succession certificate had to be obtained from the court.
The process of obtaining the succession was initiated in a court in Haridwar, far from Ranchi. But despite repeated attempts to get the heir certificate, it was rejected. A lot of documentation was required. Despite her best efforts to meet all the requirements and get ITC the required documents for the share transfer, Usha faced only high rejections.
Usha's son Sanjay (name changed) submitted the transfer of his share to the Investor Education and Protection Fund (IEPF) with a succession certificate to ITC, but ITC's claim for the shares was again rejected. But Usha Sharma is not giving up. After five months of protest, ITC agreed to Usha's request. 1,73,880 ITC shares transferred from Usha's father's name to Usha Sharma's name. Now Usha Sharma is a millionaire. This is a victory for a small rural investor.