In which scenarios will the Pay Later position be liquidated?

Pay later (MTF) position will be liquidated in following scenarios

  1. If client fails to pledge the stocks within T+1 day till 2:00 PM
  2. If clients has not maintained the required margin for the position
  3. In case of Corporate action if the stock moves out of Pay Later list
  4. In case client has excess cash during payout the Pay later position till the extent of excess cash available will be converted to delivery