Delay in Bonus Share Credit

#1
Just wanted to know if I can claim compensation for delayed credit of bonus shares in my demat account?

I sold Shivalik Bimetals on Ex-date (5th Oct.) and the bonus shares is yet to get credited which should have been done on 13th of Oct. What are my options?
 

Alchemist

Administrator
Staff member
#2
I am not sure if you can claim compensation. Even if you can, it will be a time consuming process to get compensation.

When did you purchase the shares?

Are you the only one who has not got the shares or others have not received the shares too?
 

Alchemist

Administrator
Staff member
#3
Reliance shares had gone ex-bonus on 7th September 2017.

The bonus shares were credit to accounts of shareholders on 21st September - exactly 14 days after the ex-date.

Is there any deadline by which companies must credit bonus shares to demat accounts of shareholders?
 
#4
I am not sure if you can claim compensation. Even if you can, it will be a time consuming process to get compensation.

When did you purchase the shares?

Are you the only one who has not got the shares or others have not received the shares too?
I purchased on 3rd and 4th Oct. and sold on 5th Oct. I am not sure if others are also in the same boat. My guess is, the bonus shares got credited in the pool account and the broker didn't credited to my account promptly.
 
#5
Reliance shares had gone ex-bonus on 7th September 2017.

The bonus shares were credit to accounts of shareholders on 21st September - exactly 14 days after the ex-date.

Is there any deadline by which companies must credit bonus shares to demat accounts of shareholders?
There is no such deadline. The circular get published in the BSE website. You can check it here.
 

Alchemist

Administrator
Staff member
#6
I purchased on 3rd and 4th Oct. and sold on 5th Oct. I am not sure if others are also in the same boat. My guess is, the bonus shares got credited in the pool account and the broker didn't credited to my account promptly.
Yes, that must be the case.

That is why I asked about the purchase date.

Contact your broker.
 
#12
Did you try calling upstox. Although I never encounter similar situation in Upstox but my personal experience is that things get resolved faster on calls compared to emails.
 
#13
Did you try calling upstox. Although I never encounter similar situation in Upstox but my personal experience is that things get resolved faster on calls compared to emails.
Yes, called them up yesterday and they asked me to mail. After letting them know that I have already sent, they said, the team will look into it.
 
#14
All,

What are my options? Upstox is not replying to email and getting through them call is next to impossible. It's still unresolved.

In the meanwhile, I filed complaint @ Score (SEBI) but seems like, it will take its own sweet time. What should I do?
 

Alchemist

Administrator
Staff member
#15
All,

What are my options? Upstox is not replying to email and getting through them call is next to impossible. It's still unresolved.

In the meanwhile, I filed complaint @ Score (SEBI) but seems like, it will take its own sweet time. What should I do?
I don't think there is any other option. You will have to wait. SEBI should be able to resolve the issue.

If it is a big amount, you can send Upstox a legal notice. That should be enough to get a response from them.
 
#16
I don't think there is any other option. You will have to wait. SEBI should be able to resolve the issue.

If it is a big amount, you can send Upstox a legal notice. That should be enough to get a response from them.
Thanks Sachinjee. Today got to talk to them. There pool account is with some other full service brokers and that's the reason for delay. It will get credited on Monday. I was not aware of this fact. I guess all the discount brokers are having pool account with some big brokerage house (like Zerodha too).

If that's the case, then defaulting in case of sudden spike or turbulence in the market should not be an issue IMHO. What do you think?
 
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