The buying brokers must complete the BT process within T+5 days.
BT is done to take advantage of the volatility of the market price. If buyer client wants to sell the purchased shares in less than 15 days, s/he should register the purchased shares in BT process.
Once the settlement is done in T+3 days, the buying brokers, after consultation with the clients, must decide and present the purchased shares if they want to record it as Blank Transfer. This must be completed within T+5 days.
The followings are the KEY POINTS to be considered while opting for BT:
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BT is related only to the BUYER of securities.
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The buyer may decide to have market benefit either for capital gains or to minimize the loss.
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In order to do this, s/he may partly send for Name Transfer or may register it in BT process.
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If s/he wants to sell a part of the shares, s/he has to forward that very part for Name Transfer to the concerned company. In order to do this, s/he has to cancel the BT for that very portion.
