Okk…but bank loan is always mortgaged with an assets…so even when customer becomes defaulter at least Banks have rights to sell his assets to recover debts…but what about brokers…Do they have right to seize assets of the defaulter clients??
and what if at all Client is unable to pay the losses then what a broker can do at the most??
Trading anything without sufficient knowledge is always dangerous…Chirag came to know impact of STT only after he suffered this disaster…Had he been aware of STT rules, he would never had done this gambling…!!
As those rules were introduced over 2 years later, they likely wouldn’t have gotten any benefit from them. I came across a tweet where they mentioned that they had to pay the STT. But their petition had an impact and a ‘Do not exercise’ option was introduced a few months later (Refer to this thread - NO MORE STT trap on exercised In the money options).