Let us understand the meaning of different important dates for corporate actions:
1) Declaration Date: This is the date on which the board of directors announces to shareholders and the market as a whole that the company will pay a dividend.

2) Ex Date: This is the date on which security trades without the benefit of Corporate Action .An investor buying security on or after the ex-date is not eligible for the Corporate Action by the Company.

3) Record Date: This is the date on which the company looks at its records to see who are the shareholders of the company entitled for the Corporate Action.  An investor holding shares on record date will be eligible for the Corporate Action

4) Date of payment: This is the date on which the company mails out the Corporate Action to the holder of shares on the record date. This date is generally a week or more after record date so that the company has sufficient time to ensure that it accurately pays all those who are entitled.

5) Below is the table which will tell on who is eligible for the corporate action:

Before Ex Date- Buyer Eligible, Seller not eligible
On Ex Date- Buyer not eligible, Seller eligible
After Ex Date- Buyer not eligible, Seller eligible
Hence if you are holding shares in trading (pool)/demat account on or before record date irrespective of debit or credit balances in your trading or demat account; you are eligible for corporate benefits.