KOTAK SECURITIES Complaint – Short Delivery Due To System Error

Subject: Short Delivery due to system error
My Name: CHETAN PANCHAL
My City: AHMEDABAD
My State: Gujarat
My Complaint Against: KOTAK SECURITIES
Complaint Category: Stock Brokers
Claim Amount (Approx.): 50000
My Complaint Description:
Respected Sir/Madam

Myself Chetan Panchal having demat + Trading account in kotak securities.

Client ID: CHE91_27
Client Code C3LE0
KS-CRN 19244450
Trade DP Id IN300214-19216332

On Apr 13 2018 03:00:42:000PM I placed order of 300 MIDHANI Buy with order id 1180413176538 in kotak securities app. I purchased it for Intraday purpose. It went into upper circuit immediately after sometime and on Apr 13 2018 03:13:44:000PM I placed order MIDHANI Sell with order id 1180413182536. Since the script was locked in upper circuit, It should have been sold immediately and I should have earned profit, but it didn't and I got message that, "Order is not placed, due to technical errors".

Considering this, I placed another order of sell on Apr 13 2018 03:14:14:000PM of Midhani 300 shares, which was executed immediately. At the same moment the earlier order which was not placed due to technical errors got executed and I was shown net 300 sold shares.

As the script was in upper circuit already, I was not able to purchase it back. Due to this now I am going to have short delivery of 300 shares of Midhani on settlement day.

As clearly this is due to technical error from stock exchange, you are requested to make sure I am not punished unnecessarily in form of Auction and Auction charges.

Kindly take not of this and help me out in this situation.

Trade details are as follows.

Security IT ME Exch Code Exp Date Stk Price Opt Type ITMS Order No. Buy/ Sell Order Qty/Lot Price Open Qty/Lot Act Date Status Trg Prc Disc. Qty/Lot Mrk Type

MIDHANI
Market Depth

EQ

NSE

2463

0.00

1180413176538

Buy

300

109.50

0

Apr 13 2018 03:00:42:000PM

TRAD

0.00

0

Normal

MIDHANI
Market Depth

EQ

NSE

2463

0.00

1180413182536

Sell

300

111.60

0

Apr 13 2018 03:13:44:000PM

TRAD

0.00

0

Normal

MIDHANI
Market Depth

EQ

NSE

2463

0.00

1180413183794

Sell

300

111.60

0

Apr 13 2018 03:14:14:000PM

TRAD

0.00

0

Normal

Thanking you

Chetan Panchal

8866653361

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