Sell of ELSS MF

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 December 2009 HI

whether one can sell ELSS MF before matyrity of 3 years ?
i know 3 years is lock in period but if some one need money & want to sell ELSS investment then is it possible in IT act?

Rasesh

Rasesh (Expert)
Follow

02 December 2009 It is not possible to sell ELSS MF which are under lock-in period.

You may try to pledge your holdings in MF with some Bank or broker who may keep 25% to 50% of the current market value as margin and pay you the balance. I have myself obtained loans on NSC and for my company loans on other securities under lock-in. However, I have not worked on ELSS under lock-in.

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
Follow

03 December 2009 yes as per rashesh you dont have to do that instead of this you need to arrange from somewhere bcs if you do this you lost your money, its almost half which you have invested...

Upgrade to CAclubindia Pro. Subscribe Now!