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Question
Study the following case/situation and express your opinion.
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Ram a stock broker, traded on the stock exchange. He sells stock of Reliant Industries a listed public company on 1st March, 20xx whereas the transaction gets settled on 5th March. (No Holiday being declared to the stock market on the given dates). |
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Solution
Ram sells Reliant Industries' shores on March 1st, 20xx, but the transaction is settled on March 5th. The transaction should be netted off in T + 2 days, according to the rules. The transaction is expected to be completed on March 3rd, 20xx. As a result, the settlement is not legal.
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