Why are the Brightcom Group Ltd. (BCG) shares purchased not credited to the demat account?
BCG shares purchased on the 5th and 6th of December 2022 were not delivered to the demat account because law enforcement agencies instructed exchanges to block the credit of these shares. Hence, the clearing corporation (CC) continues to withhold shares as per the exchange’s notice (PDF).
Zerodha is awaiting clarification from the exchange concerning the settlement of these purchase transactions. The credit of these shares will remain pending, and the funds used to purchase them will remain debited until further notice from the exchange.
Why is Zerodha not crediting the shares or refunding the amount even though they were purchased using Kite?
Zerodha is unable to credit the shares to the respective buyers because the clearing corporation has not credited the shares to the broker's pool account as per the exchange’s notice (PDF). Since the funds have already been used to purchase the shares, they cannot be refunded.
When will this problem be resolved?
The exchange has not specified a time frame for when the problem will be resolved. Until further notice from the exchange, the credit for these shares will remain pending, and the funds used to purchase them will remain debited.