Yes, I too have received it. Finally, this chapter came to a closure on a positive note!
Thank you everyone for keeping this thread alive.
True that! This case is a living example and certainly boosts retail investorsâ confidence in secured NCD.
Thankfully, I too had bought more during last yearâs market crash keeping total count less than 200 units so got payment at full valuation resulting in a profit. Taking the risk of buying more at downtime and keeping hope patiently paid off well.
Since I had added more units at a discounted price from the secondary market, but as you know there was no sale that took place in the secondary market prior to maturity, nor was there any maturity amount repayment. The profit made is due to the court order settlement.
Will the profit be still treated as capital gains? Can you please help me understand the taxation?
Sorry , canât go through full thread. Whats the conclusion of DHFL NCD holders ? All got money back upto 2 lakh or full amount? Whats happened to investors with large sum eg. 10-20 lakhs?
Secured NCD holders with holding upto Rs 200,000 got the complete principal amount. Holders between Rs 200,001 and Rs 10,00,000 got 46% of their principal. Above 10,00,000 will get part cash and part 10 year ncd from piramal. Not sure what the recovery comes to if you calculate NPV. FD holders got 23% from what I read.
HiâŚI am FD holder having investment less than 2 lacs but got credit of only 23% of admitted claim. I understand as per agreed distribution FD and NCD holder having principle below 2 lacs to get full repayment.cam any one advice.
@Aurko@Jainmah
No, unfortunately FD holders as group dissented to resolution plan. So they are being paid only liquidation value (which is around 23%) regardless of size of investment,
In case of debt instruments, capital loss or gain triggers when there is actual transfer or sale of capital assets (here, NCDs). Simply, if itâs 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 settlement by virtue of legal order, you have to pay capital gain taxes or if loss incurred then also eligible to claim such losses.
That means, in a situation where a debenture-holder gets back a part of his investment and the instruments are cancelled or transferred, there would be both a transfer since maturity or redemption is regarded as a transfer. Therefore, the capital gain should be applicable.
However, tax treatment in case of investment gain or loss due to financial crisis, is subjective matter and varies from opinions.
It really pains me to see so much money of the small investors being lost in such bad instruments. The Punjab Maharashtra Bank scam is still fresh in my mind. I think the best way to go about is to buy different bonds at different time frames and also having the majority of the amount in Gilt or Government securities.
I was checking bank statement and found that some money is credited from DHFL. Then I remember I have some NCDs bought 2 years back and which is paid at full value of Rs. 1000. It is not only bad debts recovered but amount doubled.
For a person who purchased NCD in June-July, it would a good 250% profit in just 2-3 months.
Ohh.
Probably there will be something else inside.
They canât even re pay FD holders.
I donât think they will easily do this. There will be some twist inside.
Yes, for those who did the trade, they made good money. But, it came with big risk, so its kind of justified. After the payout it looks like Jackpot, but few months back it was high risk trade.
Also, max NCD amount is capped at 2 lakhs, anything more and you are just getting 42% of face value. So payout was limited in that aspect.
Dear Friends,
May you please help me out by signing this petition? If you wish, kindly circulate it among your relatives and friends to rescue #DHFL_Victims from cruel financial abuse.
In this petition, the #DHFL_Scam is depicted with empirical proofs.
