Say if I take position in F&O where it requires 1L as upfront margin. Now I have 10k as cash and 90k as collateral. So in my account balance it shows 1L as margin available. So I took a position but according to exchange I need 50% as cash and 50% as collateral. Since I have only 10% as cash and 90% as collateral what will be the penalty which I gonna face?
You are taking trade worth 1L and only have 10k in cash and 90k in collateral, in this scenario you will be using excess collateral of 40k, on this you will be charged interest of 0.05% per day.
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