Jan 15 - day before yesterday: My friend wanted to sell some share. Broker office said it could be done online via meroshare. No cheque is required. He gave sell order (no signed document) on Jan 15. They asked to do WAAC and request for approval will be available on my EDIS on meroshare by 4pm. He called that day when approval didn't appear but nothing happened.

Jan 16 - yesterday: He called again and broker said they would look into it. They said they need to do some kind of matching. They called him at about 2-4pm few times but he wasn't available. However, even during that time, there was no approval option on my EDIS. When he called, the office had closed.

Jan 17 - today: There is still no approval option on my EDIS. When he called at about 11am, they said he needs to submit the signed demat cheque by 11:30 am which was not possible at all. They said if he doesn't submit till then, he would be slapped 20% fee.

My concerns: Why is there still no approval option in my EDIS? And why did they just inform about it today when he has been calling for few days.

Is there any chance of appeal? Because a) broker said all would be done online and at last time they want him to be there with physical cheque.

2) they should had warned earlier not just at evening day before.