Shrot Sell Issue

Hi, on 7th dated where i was short in M&M 800 quantity but intraday system was not squared of my short position ( Due to technical problem ) and when i have called around 3:25 PM they were unable to buyback my short position due to that i have got loss around 28000.
Now broker telling we are not responsible… please suggest me how to deal this issue.

M&M is quite liquid stock, how did they not find a buyer? Did you trade using Zerodha?
As of now, you have to pay for your losses and the auction penalty. If not, sue them :wink:

Now that the auctions is already posted, there’s very little you can do. When you take an Intraday position, the onus of squaring off the position is on you. In the event that for any reason you don’t/can’t and if the broker also doesn’t, you still have the option of delivering by borrowing shares in the SLB segment. On non delivery, the Exchange is bound to conduct the auction and the resulting auction debit gets posted on your ledger.

How easily can we borrow shares using SLB? Is there any liquidity issue?

While it would be wrong to say that the SLB markets are functioning in a full fledged manner, post SEBI’s regulations on F&O settlement through physical delivery, we are seeing some volumes emerge. While orders don’t get matched actively, if you place a bid, there are good chances that you’ll see a lender come in and fill the order.

Does zerodha allows to place these orders? Could you give me any link on how to place order?

Suggest you write to support@zerodha.com and you’ll get a suitable response.

I had written a mail to NSE.

Dear NSE

As i have raised the complaint in Tradebulls securities regarding my 7th dated where i was short in M&M 800 quantity but intraday system was not squared of my short position and when i have called around 3:25 PM they were unable to buyback my short position due to that i have got loss around 28000.

Client Code : V5333

Traded Date : 7th-Oct-2019

Please suggest me.

Regards

Vinay Kumar S M

I sent mail to them. Currently SLB is suspended. Any plans to enable it in near future?