Deliveries missing in Sharekhan

#1
I purchased some bonds of SREIBNPNCDY2 on 12th and 13th March. The bonds are not delivered to my demat as of 17th March night. Today is also record date which means I missed the benefit of corporate action for no fault of mine.

Sharekhan told me in morning that there is problem in exchange and none of clients received any deliveries for trading done on 12th March. I have following question.

- Is this problem at exchange side. If yes, then did it happen at other brokers as well.

- As I purchased the bonds before ex-date assuming I will get the interest and paid the premium, I believe I should be eligible for the benefit of corporate action. Any idea how exchange is going to handle this?
 
Last edited by a moderator:
#2
It seems this is not particular to that scrip or day. I received delivery for order dated 13th March on 18th which means I missed the benefit of corporate action.

I did not receive delivery of trade dated 12th and 16th March so far.
 
Last edited by a moderator:

Alchemist

Administrator
Staff member
#3
Complain to the exchange on which you purchased the shares/bonds.

Yes there was some problem in settlements for a day or two.

Also get in touch with the registrar of the company for interest payments that you did not receive.
 
#4
I still give get get delivery for bonds purchased on 12th March

Complain to the exchange on which you purchased the shares/bonds.

Yes there was some problem in settlements for a day or two.

Also get in touch with the registrar of the company for interest payments that you did not receive.
What is the rule here? As per my understanding as I did not have bonds in my demat, registrar can not help me. Do you think registrar may be able to help me?

If there was problem from exchange side then Sharekhan is also not liable. I think exchange would have received the delivery on T+2 day whereas it delivered to Sharekhan on T+3 or T + 4 day. This means bonds were with stock exchange on record date and they would have received that benefit. As the bonds belong to me, exchange should be liable to pass this benefit to me. Not sure what is the rule here.

Do you know exact date when there was issue in settlement. In Sharekhan I observed following:

Shares bought on 12th: Not delivered so far
Shares bought on 13th: Delayed by a day, delivered on 18th
Shares bought on 16th: Delayed by a day, delivered on 19th
Shares bought on 17th or 18th: Do not know as I did not do any delivery based trading.
 
Last edited by a moderator:

Alchemist

Administrator
Staff member
#5
Wait for 2-3 days after interest payment date (not ex date).

If you do not receive the interest, file a complaint with the exchange.

File separate complaints for separate trade dates and separate bonds.

Let the exchange and the broker sort it out.
 
#6
Thanks. I will do the same. I still did not receive the delivery for trade dated 12th March. And it seems Sharekhan call centre is not even working because of COVID-19. So I have three different complaints

1) Missing delivery for trade dated 12th March
2) Interest for bonds purchased on 12th March
3) Interest for bonds purchased on 13th March

I assume I can lodge complaint for item 1 now. For item 2 and 3. I can wait 2-3 days after interest payment date (3rd April).

Or should I combine 1 and 2 in single complaint as both related to same trade.
 
Last edited by a moderator:
#8
Update : I received delivery of these bonds. But I did not receive delivery for trade dated 23rd March.

It is really becoming difficult to trade with Sharekhan as they have lot of errors in their system and fed up as I need to fight up every time.

I am planning to open new demat account once this COVID issue subsides. Any suggestions regarding demat account. I want to trade only in fixed income instruments. My requirement is
- Low brokerage
- Should give margin based on my holdings in NCDs and allow me to place buy order. I can transfer the funds to my trading account if the order is executed
- Allow trading in NCDs and bonds
 
Top