say i sold shares at Rs 100. Due to DP's fault the delivery could not be executed and the shares were auctioned causing a loss of say Rs 50. The DP knowing that it was their fault agreed to reimburse the loss but asked me to sell the shares again on the next working day, which I did. This time the price realised was higher at Rs 120. The DP paid Rs 30 to me for the auction loss instead of Rs 50 so totaly I got Rs 100 which was my first sale price.
The first and the second sales were under different settlement numbers.
My questions are
Was my DP right in asking me to sell the shares again ?
Can they deduct Rs 20 extra that I got on the second sale which was under a DIFFERENT settlement number, from the auction loss ?
I believe that the transaction of sale-- no delivery-- auction should have been completed under the same settlement number and period
I would be highly obliged to receive opinions from the members of the forum
s j bhamgara
The first and the second sales were under different settlement numbers.
My questions are
Was my DP right in asking me to sell the shares again ?
Can they deduct Rs 20 extra that I got on the second sale which was under a DIFFERENT settlement number, from the auction loss ?
I believe that the transaction of sale-- no delivery-- auction should have been completed under the same settlement number and period
I would be highly obliged to receive opinions from the members of the forum
s j bhamgara