Show menu
FAQ FAQ Sign in Sign in

[Resolved]  BSE/NSE, HDFC Bank Securities — Unfair auction settlement

I bought 6000 Ajanta Soya shares on 8th Sept at an average price of 16.60. And then I sold them the next day at an average price of 18.60. Now there was a buyer shortage of 4059 shares on 8th Sept and as a result there was a seller shortage on my part on the 9th. The buyer shortage was settled on 15th Sept and I was allotted 4059 shares (BSE settlement 1011115) even though the current market price was 14.60 and due to low liquidity in the shares I was only able to sell those shares at an average price of 14. On 16th Sept, the seller shortage was resolved and I was forced to pay 80855 (19.92 * 4059) because 19.92 was the high price of the stock on 9th Sept (BSE settlement 1011116). This meant that I was forcefully robbed of 24000 rs. I also should have received the money at an average price of 19.92. Someone started this shortage and thats why I did not get the shares which resulted in shortage on my part. He should be the only person who should be punished because I only sold those shares which I had bought earlier. WHy should I be forced into paying the penalty. And at the very least, I should also have got my money back corresponding to the buyer shortage settlement.
I hope you can help me resolve this.
Complaint marked as Resolved Aug 13, 2020
Complaint comments  Add a CommentShareTweet

Post your Comment

    I want to submit Complaint Positive Review Neutral Comment
    Customer satisfaction rating
    HDFC Securities Phone
    +91 22 6741 9946
    HDFC Securities Address
    Trade Globe, 2nd Floor, Kondivita Junction, , J. B. Nagar, Andheri Kurla Road, , Andheri (E), Mumbai, Maharashtra, India - 400059