There is no distinction in secured NCD between those who voted and those who didn’t.
So full recovery is expected per current approved resolution plan.
Hi
I apologise upfront for my naivety here on this topic but wanted to understand - was there any action required from Investors end such as sending claims with proofs etc. that investor owns NCDs etc.
I own unsecured NCDs worth 1 lakh and I have not submitted any claim to Trustees whatsoever so far.
If any action was required and I have missed , is there any way I can submit claim now ?
Thanks in advance for your responses.
As such no explicit action was required from investors.
The records of investor holding NCD is directly collected from Demat and BENOPS system. If you have your email registered in your demat account, you should be getting updates about IBC process on email from time to time.
While you could have voted on various resolution put up from time to time, there wasn’t any action needed mandatorily.
All the process for NCD is handled by trustees. Catalyst is the trustee in this case. If you need more details you can contact them
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Hey @rupeshmandal ,
In case of debt instruments, capital loss or gain triggers when there is actual transfer or sale of capital assets (here, NCDs). Simply, if it’s not transferred or sold to beneficiary then the said loss or gain is not eligible under income tax.
In your case if you sale or transfer the investments in open market or in process of liquidation, you can claim the capital losses (despite of legal haircut). Further, the assessee can also eligible for set off & carry forward the same losses, provided there is actual transfer or sale of capital assets.
That means, in a situation where a debenture-holder gets back a part of his investment and the instruments are cancelled, there would be both a transfer and a consideration, since maturity or redemption is regarded as a transfer. Therefore, the capital loss would be allowable.
Where the company goes into liquidation, the liquidation results in extinguishment of the debenture, regarded as a transfer. Therefore, capital loss would be allowable.
However, tax treatment in case of investment loss due to financial crisis is subjective matter and varies from opinions.
Here you can also read article of bond taxation for more insights:
Hope, it helps!
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@Quicko @Akash_Shah it means, the unsecured NCD holders, and Secured NCD holders >2 Lakh investments would not only have to bear the haircut with less recovery but also the loss would not be considered as capital loss that can be carried forward / utilized for set-off against any capital gains in another debt instrument.
It’s double trouble for those sets of people.
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Received this SMS. Looks like the repayments would be received soon.
@Akash_Shah on a lighter note, Piramal recently closed their NCD IPO. Is that funding this repayment or what? 
Yes, unless some court puts a stay, money should be paid this quarter. We can all be at peace finally 
On Piramal NCD, well their Red herring prospectus listed following as objects of the issue:
- For the purpose of onward lending, financing, and for repayment /prepayment of interest and principal of existing borrowings (At least 75%)
- General Corporate Purposes (Maximum of up to 25%)
So technically they can’t use this money for any other purpose.
Besides they hardly raised 1000 Cr from NCD, and are supposed to pay around 35,000 Cr for DHFL. SO this NCD issue would be tiny drop in that ocean
I am a dhfl ncd holder and received this mail from them. Could you pls tell me what the below instruction means?
If your Email ID is already registered, please follow the steps mentioned below to get your email ID reflected in BENPOS:
1. For CDSL- Request your DP to enable EMAIL D/L Flag option.
It is specific to DP. Probably some DP are not enabling flag for allowing email of demat account holder to be accessed by other. In that case you need to specifically tell your DP to ensure that selection is enabled in CDSL demat account.
But frankly it is very rare and few small DPs are doing it. If your account is with Zerodha or some big brokers, this should not be issue. And no action will be required.
PS: If you already received email to do this then it is redundant step. If you are getting email from trustee, that means your email id is available with them
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Thanks!
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Yes, me too received same email today, and I sought clarification from Zerodha about this transaction by raising a ticket today.
Yet to receive any response.
I jave a FD with DHFL received a email last month to confirm the bank details after that no news.
Please check the Face Value and Maturity date, not sure why but FV is decreased to 820, and the maturity year is showing 2041.
Yes, I too checked on CDSL Easi website and found the paid up value is Rs 820 and the ISIN status is showing ‘Frozen for Debit’.
@rupeshmandal The redemption is not going to be straight process 
There will be series of steps executed by PCHFL and Trustee before actually money coming to us. (and still some grey area)
First step was reduction of face value. I have a document which explains entire process of redemption. Unfortunately don’t know how to attach it here. But I can post some screenshots to explain the entire process as below.
So what you are seeing in your mail is first step getting executed.
Hope this helps
Yes, technically this is money being paid back to NCD holder through funds already available with DHFL. So about 18% is being paid back by this step and face value is marked down accordingly.
I don’t think Zerodha can help you here 
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Received money for all DHFL NCDs held by me, of full face value of Rs.1000 each.
Since I bought them at discount from secondary markets, so also booked nominal profit!