@ ZERODHA as well as ALL FELLOW MEMBERS
Yesterday (on Expiry Day), I have done several trades and at the end of the day my position was as below :-
8400 CE = Qty 1500 (I did not square)
8400 PE = Qty 400 (I did not square)
BALANCE shown in my NEST Trader at 3.25 PM = Rs 4119
I did NOT receive the Contract Note today in my email (my ID is - DC0055). I received a text message in my mobile which told that my TOTAL TRADED VALUE FOR 25/06/2015 IN F&O WAS RS 18542.50.
I was with the opinion that after deducting max around Rs 600 for the brokerage, I will still have around Rs 3500 profit to withdraw..... BUT..... Today when I wanted to withdraw that profit (at around 9.45 AM), the BackOffice was showing the situation as below :-
Funds Available to withdraw = Rs 334.37
Open Position (from Last Day) = 8400 CE 1500 Qty
I called to ZERODHA CUSTOMER CARE and the lady informed me that because I did not square off the PUTS (400 Qty), they took 0.125% of TOTAL TRANSACTION as Penalty... When asked then she told me that they took RUPEES 4200 AS PENALTY..... I clarified my details that the Penalty should NOT go beyond Rs 50 but she did not listen to me and told me that I need to check the Contract Note myself...
I was aware of the Penalty System and I deliberately did not square off my PUTS because I was thinking that TOTAL TRANSACTION VALUE was going to be around 20000 only and 0.125% of this 20000 becomes only a mere 25 or max 50 Rupees....
Now my question is..... WHY A PENALTY OF RS 4200 WAS IMPOSED UPON ME (ID - DC0055) WHICH IS TOTALLY WRONG......
Waiting to discuss on more points when I receive some responses, especially from Zerodha....
Thanks
Chandra Shekhar Verma
Client ID = DC0055