Comment on Consequences of Short delivery - NSE/BSE

RAJIV POPLAI commented on 28 Mar 2020, 12:32 AM

There was an instance of short-delivery occuring in my account because auto-square off did not happen at Zerodha on 18-Mar-2020, when I had short sell of 6000 ZEEL shares. As per short-sell rules highlighted in your help page, the auction price is set out at MAX value of above 20% of closing price of T+1 day. The closing price on T+1 day was 141.2 so 20% above closing price would be 170. But you have charged at Rs 185 for settlement. I don’t understand why such high price is being charged from me when it was fault in Zerodha’s system. Auto-square charges of Rs 20/ was getting regularly deducted for this service only from zerodha from my account during the past few days which shows i had been a regular user of your auto-square service. So why am i unnecessarily penalized with an exorbitant liability. PENALTY IMPOSED IS OF TUNE OF 1.25 LACS AND NO JUSTIFICATION OF HOW THIS IS ACHIEVED IS PROVIDED.

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