EQUITY SHARES OF RELIANCE NAVAL NOT SEEN IN DEMAT ACC

Swan Energy Limited acquired RNEL through a resolution plan.

Following the acquisition, Reliance Naval and Engineering Limited was officially renamed Swan Defence and Heavy Industries Limited.

1 equity share of Swan Defence and Heavy Industries was issued for every 275 equity shares held by existing shareholders of RNEL.

Since you had 150 shares, and the conversion ratio was 1:275, you would not have received any full shares of Swan Defence and Heavy Industries. Your shares would have been extinguished. Fractional shares were generally managed according to legal provisions, often meaning they were held in trust or the value was adjusted.

thanks Rambhia sahab

You are welcome.       

Reliance Naval and Engineering Ltd. was admitted to insolvency proceedings and its shares were suspended from trading; the company was later liquidated. If the shares have disappeared from your demat account, check the statement of holdings and transaction statement with your depository participant (DP) to confirm whether they were debited, moved to an inactive/other holding category, or affected by a corporate-action entry. Ask the DP for the transaction date and reference, and verify the latest status with the stock exchange/company records. The exact explanation depends on the entry shown in your demat statement.

For any resulting capital loss, the tax treatment and year of claim depend on whether and when the shares were actually transferred, extinguished or otherwise became worthless; mere suspension or absence from the visible holdings screen may not by itself establish the tax event. Keep the demat records, insolvency/liquidation notices and purchase-cost evidence for the return and any future query.

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