Share investments used to be made using actual paper share certificates in the past. The investors received tangible grants of the investments they made in a corporation in the form of debentures or shares.
source https://www.caclubindia.com/articles/complete-procedure-for-recovery-of-shares-from-iepf-48688.asp
source https://www.caclubindia.com/articles/complete-procedure-for-recovery-of-shares-from-iepf-48688.asp
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