Comment on Consequences of Short delivery - NSE/BSE

Kabir commented on 02 Jul 2014, 12:05 AM

Hey nithin, i have done intraday short selling of Kalindee rail nirman on 19may 2014 and unfortunately share touched upper circiut. coz of that i cudnt squared off and it has gone for auction and i need to mention about the loss that happened coz of auction. But the thing that i would like to mention H that HDFC securities didnt auction it, they have done internal settlement and they are having their own way of settling this thing ” 1) they will charge closing price of (T+2 + 10%)
2) the highest price on BSe and NSe in T+2 days which ever is higher
i really wonder, is it completely fine the way of settling this kind of trade?
or is there anything wrong with this

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