Many of you must be aware that large investor community have suffered the setback due to non-delivery of BCG shares bought on 5th and 6th Dec 2022. I just got the shares in my kite console today and that is 115 days delay. Question is why we were not given cash settlement if t+2 time has elapsed?
Now the price is approx. 60% down. what are the regulation and legal action possible?
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So you purchased the shares just like other shares but the shares are credited after 115 days? So every buyer who purchased on the day of your purchase faced short delivery?
Not sure all but sure that hundreds of investors faced the issue. Just check the money control forum and you will know. It is kind of day light robbery by conspiring entities.
So were there some issues with the company before the purchase, and the price was down, so people bought it as it was available at lower price, or everything was fine until the day of purchase and something happened after the purchase, so there is a short delivery?
CCI of India had withheld a good qty of shares traded on 5th/6th as there was a police complain that some broker has sold the pledged shares. Promoters were facing compliance notice from SEBI for past audits. whatsoever everyone does not know that and the rules of compensation in case of short delivery should take place. For fault of few brokers a lot of investors suffered loss. I was about to place sell order as I saw the price appreciate and then got the bolt that my purchase is short of delivery and I cannot sell.
I request senior members know the legalities share their valuable opinion here. It will be most welcome if Nithin Kamath from Zerodha writes an article with technical details and possibilities for complain with SEBI.
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Here is the latest update from NSE. They don’t have to think about the investor suffering. What a pathetic system. No compensation for withholding our purchase for 115 days which is at 60% loss. What action to be taken?
Aa per last response by Zerodha, I need to call the number provided in the last circular. So it is like retailers will suffer suffer suffer for no reason
. What fault was with those who bought the shares? System is biased and is tilted at will of wealthy one. No respect for sebi which failed to see the suffering of genuine buyers.
Why SEBI cannot look into the plight of investors for no monetary compensation due to 115 days when the buyers had no option to sell? At top level it is very very bad decision and actions. Now with this notice the price will come to one digit. Plight of investors will certainly cause setback to government in next poll.SCORES site was crashing when I went to update my existing ticket and 14 day period elasped. Now I will open new complain.