Electrosteel shares- delisted in exchange

[Bhagyaraja]

Hi,

I want to sell electrosteel shares which is delisted from exchange few years ago. As now i can’t see it in kite app in holdings to place sell order.
Please advise… how sell the shares.
Thanks.

[ShubhS9]

You can’t sell shares of stocks that are delisted. You will have to write if off as bad investment.

[Bhagyaraja]

But company is still operating under vedanta!.

[ShubhS9]

Read this

When is Electrosteel Steels delisting and what happens to my shares?

Today was the last trading day of Electrosteel Steels Limited and the company will be delisted from the exchanges from 13/12/2018. Why the company delisting? ESL was a debt laden company which owed over Rs.13000 crores. The creditors of the company led by SBI had initiated insolvency proceedings against the company in the National Company Law Tribunal (NCLT). Once a case is filed in NCLT and if there is enough evidence of the company’s default, the company is admitted into a corporate insolve…

[Bhagyaraja]

Thanks for the info.

[HSL]

@ShubhS9

You can’t sell shares of stocks that are delisted. You will have to write if off as bad investment.

@Quicko

After writing off ; if we get back that any amount money for any reason after 2~5 years ; what would be the tax implications ?

[Quicko]

@HSL

After writing off ; if we get back that any amount money for any reason after 2~5 years ; what would be the tax implications ?

When you write off, you would be claiming it as an expense. However, if you recover the money in future, you need to report it as an income. It would be added to your total income for calculating the tax liability.

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