Hi Mr. Anil, I had 10000 shares of Uttam Galva Steels now taken over by AMNS KHOPOLI LTD, asper the CIRP Resolution. Now my DP has sent the statement with out this balance in the Portfolio, showing a Debit with description ' To Capital Reduction'. What does it mean, how will I get my money which I invested? please advise. Thanks...
Ans: This means that this has been cancelled and extinguished based on the CIRP Resolution. Typically, in such resolutions, the creditors itself end up taking a hair cut (partial write off of loan). Thus there is nothing left for equity shareholders.