Comment on algoZ - An Introduction

YDR commented on 17 Sep 2014, 09:52 PM

Please clarify my doubt

-What type of actions SEBI will takes defaulter company’s shares which are hold by customers either in electronic/physical form after closed or takeover by another company?

(Assume the situation (It may seems like satyam ) :

1. January: I owned 1000(purchased cost is: Rs 100 per each) number of shares of a company ,

2. June(after 6 months): Share value goes up and up finally reached to Rs 500.00 each, as per company financial reports I believe the growth and decided to hold the all 1000 shares(present value is 1000X500=500000).

3. September: Share value dropped to rupees from 500.00 to 10.00 (due to audit reports of that company declared that all the growth is false and fraud).

4. October: Now I decided to hold the all 1000 shares until government’s Legal declaration.

5. November: After a long time when I try to sell the shares the message appears ” presently shares are not trading in BSE/NSE ).

Now my question is

Question No-1: If company get closed ( i.e. vanished )– then how I can sell the shares that I hold?
Question No-2: If the company takeover by other one and changes ISIN number of all old company’s shares — Then How I can sell the shares?

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