Sharekhan Limited — Delayed Payment Charges

Address:

New Delhi, Delhi

I have a Trading Account with Sharekhan bearing Account Number 1506444. They have charged 'Delay Payment Charges' of Rs. 2594.69 to my account on 31-07-15. They have never informed to us in this regard. I had involvement of Rs. 3.5 Lacs and bought shares accordingly on DELIVERY BASED. System of Sharekhan allowed to buy for the amount more than Funds involved and charged Interest on such excess amount. Moreover, it sold the position to recover excess Amount without my consent. If they charge Delay Payment Charges @ 18% P.A. why they sell the position without consent or giving proper time to customer. I requested to reverse the delay payment charges but got refusal from Sharekhan.