Short delivery intimation

I have purchased the shares of ‘XYZ company’ around T-day 3:17 pm of the market hours. Now, rather than delivering the shares on T+2 day, Zerodha sends me the intimation mail which says that “Your purchase of x quantity of ‘XYZ company’ was short delivered. You will either have your purchased shares delivered to your Demat account or the funds credited to your ledger (in case of non-receipt of stock) by DD/MM/YYYY.”
so is there any penalty for me(as a buyer) or for the seller?

The seller of the stock is obligated to pay the penalty amount which is decided based on the auction settlement on T+3 day. As a buyer, you either receive the shares or the refund of the amount.
You can refer to the Z-connect blog here for a more detailed explanation.

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Thanks, @Sanjukumar.K for confirmation.