Story of the unclaimed shares of an Air India Captain
In the early 1960s, a well-respected doctor from Ahmednagar, Maharashtra, invested in shares of several businesses. The shares were worth between 3,000 and 5,000 rupees at the time. The doctor had a son who was an Air India pilot. The family moved away from Ahmednagar after the doctor died in 1970. Neither the son nor any other family members were aware of the shares that the doctor had purchased.
Read MoreStory of unclaimed shares with Income tax complications
In 1972, a well-respected chartered accountant from Mumbai invested in shares of several companies worth nearly 10,000 rupees. However, due to an income tax lien, the shares were seized by the Income Tax Department. After the accountant's death in 1987, the shares were left unclaimed by his family for many years.
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