Rights issue pledged shares

Hello i bought 200 shares of mahindra and mahindra finance on 5 paisa and pledged them now they are saying i will not recieve the rights issue because the shares were not in my dp on record date i would like to know what actions can i take against him

@mohitmehra Can you.

Yes we can make a complaint at SEBI which monotors and regulates all the brokers

Hi Vivek, since the shares were not in your holdings on the record date you won’t receive the REs directly. However, 5Paisa can transfers these REs to you on listing. It would be best to confirm with them if they’re denying transferring the REs to you before you escalate this to the exchange/SEBI.