I had pledged my shares in a company, in physical form, in 1993 and taken loan against it from the bank.
I had been paying the interest regularly.
I even got the lien mark cancelled in 1999. But still i did't proceed ahead to collect my new share certificates(ex-bonus and stock-split) from the company. The company has kept the new share certificates with itself.
I was NOT much aware of the lien-mark cancellation and its meaning.
Later due to worse market situation I was NOT able to pay the interest.
The bank declared my loan as NPA in 2004.
The regular dividends has been going to the bank and NOT me, as per my given mandate.
This year I had changed my Bank mandate an opted for ECS.The same had been acknowledged and I have even got the dividend in my other Bank Account.
Also the company had declared 1:1 bonus this year(2010)
My query is as below:
1)Since the NPA has been declared in 2004 , may I NOT complain the bank to encash the dividend declared since NPA declaration.
2)How do I rightfully demand for my share certificates from the company.
Regards
