I bought a stock at BSE, and the order was placed successfully. But when I tried to sell it immediately on NSE, my order failed and showed an error of insufficient funds. Why is that so? I was trying to sell the stocks I already had in my account then why did insufficient fund issue spoil the profitable moment? Just to let you know, I was trying the place the order at MIS (both buy and sell). Buy MIS at BSE and sell MIS at NSE. Dear Zerodha, please answer this.
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You can sell your holding bought from one exchange on another exchange, Zerodha itself gives a message when there is a price difference between the 2 exchanges.
Is it not the same with MIS?
If delivery is T+1 or T+2,
one does NOT have the stocks in one’s account as soon as the order goes through.
Right? 
He mentioned holding and MIS, so 2 things?
In MIS you cannot do the arbitrage trade. If you buy in BSE and sell in NSE margins are required separately. At the square-off time as it is MIS position both the positions will get closed.
If you have holdings in your account (CNC) you can sell in any exchange where the price is higher and can buy back from the exchange where the price is lower.
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Nice try Spiderman! 