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Unable to pay for credited securities. What to do?
09-Oct-2023 (In Corporate Law)
I have a trading account with motil lal oswal securities sub broker in India & I purchased some shares two months ago on third party advice and now I am unable to sell that shares as shares are froze and rate is going down. Please advise if I am in some legal trouble.
If the person who provided you with the tip had access to information that was not shared with the market and you made the trade based on such a tip, you could very well be investigated by the SEBI for insider trading as it is a very serious offence. There is a possibility that the SEBI has had the accounts frozen.
When large amounts of shares move in a certain manner, it can trigger certain measures in the stock exchange. Find out why the accounts have been frozen and if the SEBI is looking into the trade.
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Adv. Chikirsha Mohanty
Delhi | 200+ Answers
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