I recently received a dividend draft from TATA METALIKS whiich I had to deposit with the bank. Unfortunately the bank declined to accept the draft even though it was an A/C payee draft with the account number. The draft was issued with my name as per the brokerage account. The bank account was opened as per the AADHAR card name. What would be the easiest way to sort this out.
@mohitmehra can you.
You can reach out to the Registrar and Transfer Agent of the company and let them know that the bank isn’t processing the draft. They will either:
- Process an electronic transfer to you and cancel the dividend draft, or
- Issue another dividend draft by collecting your Aadhaar card copy (or any other proof the RTA requires) and an application towards re-issuance of the dividend