Originally posted by : Samantha J
	Since the debit is on account of court order you cannot claim loss as they have been extinguished not transferred to result in loss.

I doubt if the Supreme Court explicitly mentioned in their order that the shares be deleted from shareholder demat accounts. SC does not do that.

Isn't it extinguishment of right/title which is also included in definition of transfer and hence long term capital loss should be allowed? 

Originally posted by : Rocks Parss
	Isn't it extinguishment of right/title which is also included in definition of transfer and hence long term capital loss should be allowed?

Definition of Transfer may stand true only if there was a "buyback" by the company itself. Here there is no buyback. A Corporate Action was issued by the company to delete all Essar Steel shares from the demat accounts. So there is no sale, no transfer and no buyback.