What if I do not square Short sale ?

Hi!

I have a trading account with ShareKhan.. I did short sale for 100 Tisco shares but could not cover it by the end of the day.

Can anybody tell me what would happen in such senerio? Is there any penalty ? or how long I can keep the shares shorted?

Thanks

Sharekhan will auto square it off and no penalty will be applied
Subrata

Unlike ICICI Direct, Sharekhan does not square it on its own...
In my contract note it has not squared and given me money for these shares.

I guess since the setelement is T+1 day.. I should buy shares before that.

Other members pls. input ......

What if i dont buy? When will broker square it on it's own


Thanks

You will have to pay some panelty but that is depends on broker who does he charged

I recvd. a mail ... But now I have a doubt that if I buy 100 shares on 13th then will it be OK? Will that be considered as in my DEMAT on 14th ?

Pls. refer mail below...
_____________________________________
Dear Sir / Madam,

Greetings of the day to you,

We write to you in connection with the trades executed by you in Settlement number 2009007.

The 100 shares of TISCO respectively had been Short sold have neither been squared off nor available in your Demat account. We request you to have the same transferred to your DP account latest by 14th January ,before 9:00 AM for payin purposes.

Please note that failure in doing so would result in the trade going into an auction.

Incase you have already transferred / made available the shares in you DP account feel free to ignore this mail.

Would you require any further assistance do write to us and we shall be glad to assist you.

Thank you for visiting www.sharekhan.com

Assuring you of our best services at all times and looking forward to a long and pleasant association.

Regards,
Team Sharekhan
_________________________

it will go to auction market and will be bought at a slightly higher price.sit back and relax no tension of dp, delivery. etc