Complaint Details

Status	:	Closed
Complaint No	:	0020739/2014
Category	:	Others
Date	:	22-04-2014
Subject Line	:	BOB&NSE&karvy
Complainant	:	awadh
Address	:	243,deenkuti parkota
Complainee	:	BOB
Address	:

Complaint Details
Sir,
I did the below complaint in bank of baroda-
"In 1997 I bought 100 shares of Bank of BARODA by PUBLIC OFFER.I also
received its certificate.My Reg. Folio no. is - BBE170785 and CERTIFICATE
NO. is - 246159 .Distinctive no. is 0220615701 to 0220615800 .I was not
informed about 2nd call money at all via any means and so I didn't pay the
2nd call money as I was not informed about it.I contacted them many times to
transfer my shares into my DEMAT account.I wrot them letters in the years
2002 to fulfill the need,but they didn't reply.Again I tried to contact them
in 2005 via letter and they sent a letter in return informing that my letter
has been sent to the share unit of BANK of Baroda for further clarification
on the issue.In 2006 I sent the original share certificate to transfer it
into my Demat but they kept the original share certificate and told me that
due to miscellaneous reasons all my " NEW DRF REQUIRED AND OLD SHARES ARE
FORFEITED AND RETAINED BY THE COMPANY." Also they neither returned my money
nor transfered the shares into my Demat account.Now they should either
return my money back along with the interest or transfer the shares into my
Demat account."
But they replied that-
"You may please note that Bank of Baroda has forfeited all the partly paid
up equity shares in June 2003 on which call money/allotment money was not
paid. The Bank forfeited the Shares under the relevant Regulations as
approved by Government of India by Gazette notification. The Bank observed
the due process including the issuance of periodical
Notices/Reminders/Forfeiture Notice including publishing a Notice in
newspapers also. Moreover, the relevant Offer Document dated 27th September,
1996 at Page No.8 very clearly stated that “Failure to pay the amount as
aforesaid, shall render the allotment of equity shares liable to
cancellation and amount paid liable to forfeiture.”
Moreover as per norms approved by Government of India Gazette notification
“Forfeiture of share extinguishes all claims against Bank with regards to
forfeited shares.”
Chief Manager,
Head Office, Baroda.
I again replied that-
"Its not necessary that every individual read the newspaper in which the
information mentioned by you was given.You should have sent me a call money
reminder and if you have already done that than you must be having the
record of when you sent that reminder.So please provide me those details
from your record.Also send me copy of the government rules as mentioned by
you according to which shares can be forfeited without giving any reminder
for call money.I don't think there is any rule which allows shares to be
forfeited without any reminder for call money.Due to this decision of your
bank I have to suffer from great economic and mental tension.If I didn't
want to keep those shares than Iwould have sold them at that time only when
they were issued.If I would have been informed about call money than I would
have paid it that time only.I am ready to pay the call money along with
interest for the shares now . Kindly look over the matter and return back my
shares and resolve it as soon as possible."
The reasons given by me in this matter are true as they didn't inform me
about any call money by any means.But they are not ready to accept any of
the reasons stated by me.Kindly look into their records if they ever sent
any reminder for call money and my shares should be freed by them and given
back to me.
complaint against BANK OF BARODA in NSE. The complaint no. is
2011/0014273/01 dated 11-03-2011.They never sent me any reminder for call
money but when I did complaint in NSE the officials of BANK OF BARODA
replied that they gave an advertisement as a reminder for all the investers
in tha newspaper FINANCIAL EXPRESS MUMBAI on 23-01-1998 and also sent me a
copy of the same, but it is a local newspaper of Mumbai and it is not
available even in Madhya Pradesh and in my city Sagar also. So how I could
have seen it in this newspaper. They should have published the advertisement
in any of the local newspapers of MADHYA PRADESH so that I would have been
able to see it. Also to publish an advertisement in any newspaper for the
reminder is not sufficient.They should have sent me a written reminder on my
address but they didn't do so.Also my address is still the same as it was
earlier. Then how am I supposse to know the reminder for call money!!! Now I
want you to look forward to the issue and complaint againI contacted Bank of
Baroda and NSE also in this concern but they refused my complaint by saying
that they sent me reminders and also published the reminders in the
newspaper, but Bank of Baroda does not have any receipt record of sending me
any reminders.They have sent me a copy of an advertisement published in the
newspaper "Financial express Mumbai" in which the reminder for call money
has been published but this newspaper is not available in Madhya Pradesh or
may be very rarely available.They should have published it in at least two
newspapers of regional languages of my area which was necessary to be done
by them but they published it only in one newspaper and that too of Mumbai
and in this way they only did the job of completing their formality which is
totally wrong.They never sent me any call letter or reminder for call money.
Also there was no change in my home address during this period. And now the
bank is making a fool out of everyone by giving fake details of the
reminders.I am suffering from very big financial loss as well as mental
stress due to bank's this kind of behaviour.So I request you to please check
the Bank's record if they ever sent me any reminder or call letter so that
it can be proved if the bank is right or not.I am been harrassed by the bank
without any fault and kindly help me to get back my shares and I am ready to
give the call money along with the interest to the bank
From
Awadh Sharan Shandilya
Sagar, Madhya Pradesh
ph. no.- 9406531741,07582227292 ,HDFC TRADING AC
NO.-917563.AC.NO.-0449100004395

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