Shares bought 20 years back, company denies returns

You will have to file Insolvency Application before National Company Law Tribunal. By way of insolvency application you can claim your whatever amount with 18% interest. This is the best and quickest possible way. 

I would like to differ with the views of Shri Shrey Dambhare. Insolvency application cannot be moved by an individual shareholder. The same can be moved only by the company after passing of a resolution in the AGM.

Further, there is no process of refund of equity money or interest thereon from the company. Shres can be sold to some other investor through any recognized stock exchange on market price, privided the shares are tradable due to all other compliances by the company, as perescribed by the company law or the Rules of the Stock Exchange.

 

Thank you JIGYASU for your kind reply! Firstly I can't trade these shares as they are not listed on any exchange, the company personal denied to redeem them too! Should I go ahead with a complaint to Ministry of Corporate Affairs? Or is there any other way to pressurise this company? I mailed my complaint to NCLT who have not replied me yet!

Mr. Rhuturaj Nilegaonkar,

Since shares are not listed in any stock exchange, you can trade them privately to some willing investor at some agreed price, as the corporate office advised you, or better convince some director of the company to acquire your mother's shares at some agreed price. Otherwise, these shares being a part of your mother's shareholding in the company are your mother's property, you can't take any action against the company. So, till not disposed off, listed and traded openly in any stock exchange, these can be treated as junk and a waste paper. Better wait patiently for listing and trading through stock exchange. No alternative except to wait further, as your mother is a part of the company by virtue of company's share holder. Sometimes, when company comes out with new issues such shares become a gold mine for the initial investors.