This must be frustrating.....
I think the way to deal with rogue brokers is to keep a paper trail....
As soon as your sale order is executed,ask for a print out of your statement....
Then write a letter asking for payment of your dues....make a copy and have them stamp it 'RECEIVED'
Wail 4 business days and go for your cheque....
If it is not ready,don't complain verbally. Write another letter saying that your payment has been delayed beyond the statutory deadline and demand your payment within 24 hours,'or else,you will take up the matter with the regulators'
...again,make a copy and have them stamp it 'RECEIVED'...
Go back the following day....80% chance,your cheque will be there waiting for you....take and bank it and wait another four days to clear....
If you are in the 20% chance of not getting it...again don't complain verbally; write another letter,this time to CMA and NSE giving details of how the broker delayed your payments...attache copies of your letters to the broker.....
Then sit,wait seven calendar days...you will see some serious action......
Behind the gardens...Behind the wall...Under the tree (Including: Red...Dark Blue...Yellow)
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.