need help

Hi, i sold abt 211 shares of sulzer yesterday without having any shares. I wanted to buy them back by the end of the day. But while abt 25 shares were bought back the share market closed!! So now i have -185 shares in my demat acc in kotak. Can someone guide me as to wht i can do now? I tried to buy the shares today but because of the margin limit i can put up only 57 shares for sale. What will be the next action of the bank if i cannot buy back all these shares by friday? Can someone help with some information?

make a call to your relationship manager and tell him your problem as soon as possible....... i thing bank will buy back the shares and the loss will be deducted from your margin.........dont you placed any stop loss order ?????????????????? contact your bank dude ..........do not worry ........

The situation you are in is called 'uncovered short sell'. When you sell shared without having them in your DEMAT account, you must buy back these shares on the same day(called as "cover"). If you fail to cover completely, the no of shares which were not covered will go to "auction". You may have to pay 20% higher price to the buyer of those shares as penalty.

Thanks for the info...will contact the bank and see what they will do