“Sir, I was ready to book profits. Everything was set. But the platform just kept rejecting my orders.”
When Bharat Bhaychand approached us in late July 2024, he didn’t sound angry.
He sounded stunned. The kind of stunned that only comes when a near-perfect trade turns into a painful lesson, not because of bad strategy, but because the system simply didn’t let him act.
This is the story of a trader who did everything right and still suffered a massive opportunity loss due to a technical glitch on the BSE.
It’s also the story of how we helped him fight back and win. ₹4.53 lakh. Recovered via arbitration.
A rare but important example of BSE glitch recovery being acknowledged and compensated.
It All Began with One Trade
The date was 12th July 2024. A regular trading day on the surface.
Bharat, an experienced F&O trader, saw an opportunity in the Bank Nifty 53400 Call Option (expiring 16 July). Premiums were cheap, and the index was moving well. He didn’t hesitate.
Time: 10:59:37 AM
Quantity: 11,040 (Lot size: 736)
Entry Price: ₹50.01
His target? ₹103.
Ambitious, yes, but very much within reach, as prices surged within minutes.
What followed was a nightmare.
Every Exit Order… Rejected
By 11:04 AM, Bharat was sitting on an unrealized profit of around ₹6 lakh. He tried to exit. First, a market order, rejected.
Then a limit order — rejected.
Stop-loss? Rejected again.
He tried modifying. Cancelled. Retried.
Nothing worked.
He wasn’t trading on some shady terminal. It was a registered NSE broker platform.
And their platform simply wouldn’t execute.
It wasn’t just a one-off lag. It was systemic.
He finally managed to exit the position at 11:19 AM, selling at ₹53.02. A meager ₹33,230 in profit.
“Main ₹100 ke aas-paas nikal sakta tha. ₹6 lakh ka trade tha yeh. Bas system ne saath nahi diya.”
The Glitch That Cost an Opportunity
The culprit?
A technical issue on BSE’s side caused margin reconciliation to fail.
This pushed several brokers into Risk Reduction Mode.
Essentially, their systems locked up. No new orders could be placed. No exits either.
The broker argued that they weren’t at fault. They had reported the issue to regulators. The glitch impacted “many brokers across the industry.”
But here’s the thing:
The trader wasn’t dealing with the BSE. He was dealing with his broker.
And brokers have a duty, under NSE rules under SEBI regulations, to provide uninterrupted, accessible service.
If that breaks, the loss isn’t just technical. It’s real.
We Built the Case
When Bharat approached us, he had already tried reporting on all the platforms. The conciliator had marked it unsuccessful.
So he filed for arbitration. That’s where we stepped in.
We reviewed every document, reconstructed the trade timeline, gathered the chat logs, order book screenshots, and even sourced NSE’s alert on the BSE technical fault for that day.
The screenshots were crystal clear:
- Sell orders placed at ₹94.50 — Rejected.
- Repeated order attempts from 11:04 to 11:19 — All failed.
- Final exit at ₹53.02 — A 40% drop.
The math spoke for itself.
Loss = ₹94.50 – ₹53.46 = ₹41.04 per unit × 11,040 units = ₹4,53,081.60
This wasn’t “notional.” It wasn’t “speculative.”
This was a documented opportunity loss due to the failure of service.
The Arbitration: What the Arbitrator Noted
The case went to the appointed arbitrator via NSE’s panel. Both parties appeared: Bharat, accompanied by our team, and there was on representatives from the broker side.
The broker’s defense was predictable:
Broker Representative: Yes, the issue happened. But it was at BSE’s end. We were just collateral damage. We reported everything. The trader still made a profit, so what loss are we talking about?
The arbitrator wasn’t convinced.
Arbitrator’s Observation:
“It is not denied by the Respondent that he is under an obligation to provide uninterrupted service… If he fails… he has to compensate his clients for the loss occasioned.“
He also pointed out that the broker provided no concrete evidence of communicating the glitch to the client in real time.
Nor did they take preventive steps to mitigate client losses.
The Award: Justice Delivered
On March 18, 2025, the final award came in.
The broker was to pay ₹4,53,081.60 to Bharat within 30 days.
If delayed, 12% annual interest would apply from the date of the award.
It wasn’t just a win.
It was a precedent — for traders who’ve long suffered platform failures with no recourse.
Why This Case Matters: The Bigger Picture
We’ve handled many cases. But this one stood out because it struck at something every trader fears , the loss of control in a fast-moving market due to something they can’t see or fix.
Technical glitches happen. Everyone knows that.
But what’s not acceptable is:
- Lack of transparency from brokers
- Blaming the exchange without accepting delivery-level responsibility
- Dismissing real losses as “notional”
If you’re a trader reading this, know this:
- You can take action.
- You should document everything — every rejected order, every email, every screenshot.
- And yes, recovery is possible.
Final Words: Not Just a Win, A Warning
This wasn’t just Bharat’s story.
This is the story of every retail trader who has been told:
“Sir, ye toh system issue tha, kuch nahi kar sakte.”
Well, turns out you can do something.
And we’ll be right here to help you do it.
