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What will happen to a customer availing ANST in case the delivery for shares sold by the customer earlier is not received from the exchange?

April 26, 2017anst availing Case customer DELIVERY received Shares sold

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What will happen to a customer availing ANST in case the delivery for shares sold by the customer earlier is not received from the exchange?

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ANST is a facility whereby the customers are allowed to sell their shares against their receivable position in the same shares. However, in case there is a short delivery from the Exchange for the earlier buy transaction, then the ANST customers will also be giving short delivery for their sell transaction. In such case, the customer will have to face auction proceedings against his sale transaction and will have to bear the auction losses, auction penalties and any other incidental charges etc. All cost and consequences of any auction arising out of such ANST sell transactions shall be fully borne by the customer and Standard Chartered Wealth Managers would not be held responsible for any such short delivery received by the customer and the consequential impact thereof.