im not finish Credit clearance...?

ROHAN · 1 im not finish Credit clearance...? Thu Mar 31, 2011 9:39 pm

ROHAN

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i had Credit clearance rs.50000/- today morning,but i deposit only rs.30000/-,becouse i havent money this time,then can you tell what happen tommorrow,is they are cancle my CDS account,pls advase needed

Rajitha · 2 Re: im not finish Credit clearance...? Thu Mar 31, 2011 11:01 pm

Rajitha

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ROHAN wrote:i had Credit clearance rs.50000/- today morning,but i deposit only rs.30000/-,becouse i havent money this time,then can you tell what happen tommorrow,is they are cancle my CDS account,pls advase needed

Did you buy those shares on credit 4 days ago ? If so they might sell Rs 20000 worth of shares to cover for their money! Did your broker told you to sell by today ?
What I do about my credit is let my broker call on the 4th day or morning on 5th day and let me sell some shares to clear for the amount!

From what I can understand is best option for you might be to sell some of the shares you think might think will not appreciate a lot in the coming weeks to cover up for your credit rather than letting broker force sell your shares!

ss7097 · 3 Re: im not finish Credit clearance...? Fri Apr 01, 2011 12:39 am

ss7097

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Rajitha wrote:

ROHAN wrote:i had Credit clearance rs.50000/- today morning,but i deposit only rs.30000/-,becouse i havent money this time,then can you tell what happen tommorrow,is they are cancle my CDS account,pls advase needed

Did you buy those shares on credit 4 days ago ? If so they might sell Rs 20000 worth of shares to cover for their money! Did your broker told you to sell by today ?
What I do about my credit is let my broker call on the 4th day or morning on 5th day and let me sell some shares to clear for the amount!

From what I can understand is best option for you might be to sell some of the shares you think might think will not appreciate a lot in the coming weeks to cover up for your credit rather than letting broker force sell your shares!

Yes Rohan, as Rajitha said, you should sell some of your shares which is not go up in coming weeks (less expectations). I also did the same and I had Rs 600,000/= to cover up due to less money I had in this week.

ROHAN · 4 im not finish Credit clearance...? Fri Apr 01, 2011 7:12 am

ROHAN

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thanks RAJITHA & ss7097

ROHAN · 5 im not finish Credit clearance...? Fri Apr 01, 2011 7:19 am

ROHAN

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i have to clear 20000 my broker say after 31/03/2010 share selling is not vallied to credit clearence,then want i deposit 20000 ,,,,,,,,problem is this time a havent money

Rajitha · 6 Re: im not finish Credit clearance...? Fri Apr 01, 2011 8:18 am

Rajitha

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ROHAN wrote:i have to clear 20000 my broker say after 31/03/2010 share selling is not vallied to credit clearence,then want i deposit 20000 ,,,,,,,,problem is this time a havent money

What kind of stupid broker is that ? You can always sell your shares to clear credit! Thats the normal way how it is done! You sell your shares and that means putting cash to your account!
When did you buy these shares on credit?

CSE Today · 7 Re: im not finish Credit clearance...? Fri Apr 01, 2011 9:03 am

CSE Today

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Rohan, first of all check weather you have a Broker or a Joker...!

what Rajitha said is correct... here I'll re explain it for you

out of all the credit purchased before 31st December, have to settle 50% by end of March 2011 & the Balance to be cleared on or before 30th June 2011

Then for all purchases after 01st of Jan 2011 you have to settle within T+3 days and if not settled the Broker can force sell same stock & if the funds insufficient to recover they can sell any other stock in your account to recover the dues. [but only after T+5days]

So if the brokers are authorized to force sell & recover the dues why the clients can't sell & settle the dues...ask your broker that...!