Comment on Consequences of Short delivery - NSE/BSE

Adit commented on 20 Sep 2015, 07:50 PM

Hi sir,

Could you please clarify my stupid doubt about short delivery? In November 2013, I shorted 1000 shares of ABAN OFFSHORE at an average of 306 Rs. The stock hit the upper circuit that day. I traded with 1 lakh in my account. The stock must have been auctioned on T+3 day, and my broker deducted additional 15,000 from my linked bank account. I didn’t open my trading account for a long time. I kept thinking that all that 1.15 lakh is my loss. My doubt is whether all that money is my loss or do I have all these stocks in my short delivery and can I buy it back at the current price of 243. I hope it makes sense. Thanks in advance.

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