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Asked a question last year

I had short sell through MIS order 7000 shared at 460 rupees in VIP industries,but the stock hits upper circuit,so that Couldn't able to square off the position.My account opening balance is around 5.7lakhs but now showing -89k.May I know the leverage and penalties for the short sell.When the auction finalised amount can be settled into demat amount??.

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Your amount is blocked as your shares will be due for Auction Settlement. It will be released after T+3 working days. 

You can refer to our Blog 15to know more about Margin Shortfall and Penalties. 

Hope this helps!