Comment on Consequences of Short delivery - NSE/BSE

vijay commented on 11 Nov 2014, 10:13 PM

I had a similar experience which could have taken my life away.. I had pledged 46880 shares of JP associates and when i unpledged them, I saw 46880 shares of Tata motors in my account valued at 2.51 crores. Previously I had reported few bugs in Z5 to zerodha so I thought this could be one of them. I sold them off. Later looking at the value of the transaction i got scared and squared them off. To add fuel to the fire, I again sold tata motors all the shares and bought JP associates 7 lakh odd shares thinking of squaring it off by EOD but unfortunately Jp came down. So I left my position as it is. So my 46880 shares of tata motors went for auction. I sold JP shares on T+2 to meet valuation debit obligation. I had sold them at 537.5. After two days luckily it came down to 521. On the auction day, the shares were bought at 534.2, just 3.3rs below my sell price. imagine what would have happened if the shares were bought at a higher price or closed out… or what if the shares of JP came down by even a single re. I ended up with a marginal profit of a couple of thousand rupees. probably the rarest of the rare case when it comes to auction penalty. I wholeheartedly thank the zerodha team especially Mr Venu and Mr Chandra for their patience and support. I hereby take an oath today never ever to do such mistakes in life!!!. thank you zerodha!!

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