Call option square off issues

[haribabu]

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Petition by Chirag Gupta for STT

Hi dear experts…!! referring to the petition by Mr Chirag Gupta… I want to clear some doubts… He has a huge loss or Rs 18 lacs…who will collect this loss form him?? If he is not able to pay this loss then who will take action against him?? What could be the legal action?? will he be imprisoned if he cannot pay losses??

STT on ITM Options

Suppose I have two long option positions of same ITM strike prices on expiry day.One is MIS and another NRML.what STAT I have to pay in both cases AT THE END OF THE Day. How will it be different if the positions are short.