Time between trade date and settlement date

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Ca Monty Garg (Querist)
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29 April 2014 Hey Guys,
I was holding some debentures.
Its Record date was set on say 5 Apr
That means 4 Apr will be Ex-interest date and if hold the debentures on 3rd Apr i will be getting the interest.
Now if i sell them on 4th i should be eligible.
Actually i have not received the interest.
Now After checking my demat statement i recognized that my purchased shares are credited to me after 2 days but sold shares are debited the same day of purchase and the debentures were debited from my account in 4th Apr were not present on 5th Apr.

Now My Qus is that
Who own the debentures on 4th and 5th Apr and who will receive the interest

Nikhil Kaushik

Nikhil Kaushik (Expert)
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30 April 2014 while the security wont reflect in the buyer's DP statement, he shall have the beneficial righ wef the date he/she bought it (ie transaction date)

Ca Monty Garg

Ca Monty Garg (Querist)
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30 April 2014 Why will the buyer will have the right to get interest as he is buying the ex-interest debentures

Nikhil Kaushik

Nikhil Kaushik (Expert)
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30 April 2014 see what I wrote...I said he will have the beneficial right wef from the date he bought..the interest before that won't be his right.

Ca Monty Garg

Ca Monty Garg (Querist)
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30 April 2014 Let me give you exact dates
The record date was 17 Mar 2014 (it was a holiday) (15,16 Mar were also holiday)
So according to me the record date will be 14 Mar 2014 and the ex-date will be 13 Mar 2014
Now i sold them on 13 Mar 2014 and my demat a/c was debited on 13 Mar.

From my point of view i am eligible but i have not receive the interest so far from the company

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