Use of collateral and liquidbees for nifty options selling

Please review my plan below and give feedback:
Pledge Eichermot stocks to get a collateral funds of 10 lakhs.
Purchase Liquidbees for 5 lakhs and pledge the same.
With 10 Lakhs of collateral funds, I can sell approximately around 20 lots of nifty. The 5 Lakhs pledged Liquidbees should meet the cash requirement for the exposure to 20 lots of nifty.

Is my understanding correct? Any flaws in this plan? Please help in this matter. Thanks.

Kshitij Malve

Sounds okay. Although you need to be aware that collateral margins will be given after considering the haircut.