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I have a query on Capital gains/ Loss on preference shares.

I am holding Redeemable Preference Shares of IL&FS, which became bankrupt recently.

Face value per share Rs.7500/- Premium Rs.5000/- and Redemption date 16th May 2021, Issued in 2014.

One more lot of preference shares of the same terms, redemption due in 2022.

As we know IL&FS has gone burst and will not honor the redemption commitment.

In this scenario, my question is :

  1. whether I can claim Long term capital loss in the absence of sale consideration ?
  2. Which year can claim the loss for redemption due in 2022.?
  3. Is indexation benefit available
  4. What proof has to be obtained in the absence of communication from the issuer with regard to dishonoring the  redemption commitment.?
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