Dividends issued as DD

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Last Comment 2024-05-07

2024-05-06

Hi, I hope this incident might have happened to many but would like to know if someone was able to overcome .

With recent Paytm bank closure and who has it as default account for their demats, they recieved dividends as DD.
But issue with the DD is that the name mentioned on DD is "Name-Paytm Payment Bank". Since the name has bank mentioned in it, no bank is allowing to redeem it.

I tried emailing to the dividends cell of the issuing company but there's no response.
Anyone face similar situation?were you able to overcome and redeemed the money?

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https://www.desidime.com/discussions/dividends-issued-as-dd?page=1#post_10062479

tappukepapa

2024-05-06

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Why didn't you change it to other savings account before the deadline?

https://www.desidime.com/discussions/dividends-issued-as-dd?page=1#post_10063507

abhaya789

2024-05-07

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I Did, but the ex-date is before that.

https://www.desidime.com/discussions/dividends-issued-as-dd?page=1#post_10062587

gischethans

2024-05-06

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Writing to the respective companies' Registrar & Share Transfer Agents would help you get a new DD. But they can ask for more documents like signature attestation etc. Therefore, it would be wise to change the bank account and alert them for electronic credit.