Demat Account

I opened a Demat account a few years ago with Stock Holding Corporation of India. I have never used this account. Also, I haven't paid there Annual Maintenance Charges. What would happen in this case? Is there any need to close this? I think they will just keep debiting the account and it will go into negative balance. Unfortunately, I don't even have the documents to close this account. What should I do?

you dont have to do any thing, they will follow up for some time and then put it into lost contact.

I rang them, and they said the account will keep getting debited and the balance would be negative with a 18% interest / year. If I don't pay a certain number of years, they would file a legal notice which would come from Mumbai. They said that if I want to close the account, I have to go to the city at which I opened it!!! This is not possible since I live far away.

Should I ignore their warning?

Beware, if you are not using it, someone else(read shady brokers or shady employees at broker's place) may use it for their proprietary trading and slap the loss on you. Therefore, close the account as soon as possible.