If the deal with Piramal is concluded the future will be bright.
Equity share capital is likely to be written off, how is that bright future for shareholders?
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Not sure why DHFL shares were going up in last few days…
Maybe greater fool theory at play. The downward journey has started.
The Fineprint | DHFL Insolvency: Has NCLT Muddied The Waters?
Announcement on 08-Jun-21.
Regulation 3(3) of the Securities and Exchange Board of India (Delisting Of Equity Shares)
Regulations, 2009, provides that in case of delisting of equity shares of a listed company pursuant to a resolution plan under Section 31 of the Insolvency & Bankruptcy Code, 2016, the exit to the shareholders should be at a price which shall not be less than the liquidation value as determined under regulation 35 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (CIRP Regulations) after paying off dues in the order of priority as defined under section 53 of the Insolvency and Bankruptcy Code, 2016. No value was attributable to the equity shares as per the liquidation value of the Company estimated by registered valuers appointed under the CIRP Regulations. Accordingly, the Resolution Plan proposes to extinguish all the equity shares (including any right to subscribe to, or be allocated such equity shares, including any employee stock options, pre-emptive subscription rights or convertible instruments held by any person) held by the existing shareholders of the Company or any other person by way of a capital reduction without payment of any price to the shareholders/ such person.
Translated in simple terms, existing shareholders will get nothing. Remember they are always last in the queue. Would have got something if anything was left on the table.
Trading has already been suspended. Tough luck to shareholders.
Always remember: caveat emptor
They say a picture is worth a thousand words.
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news share
disc : exited
I think you are the only one invested in it from very long time and didnt sell when there are clear red flags …can u give your thought process as how to stay in fraudulent companies when inform was everywhere
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