What happens if the F&O position is not squared off until the end of the session on expiry day?

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If a position is not squared off due to any reason, in case of a

• Buy position - User will receive the shares in his demat and he will have to pay the entire amount required. In case the user is not able to fulfill the obligation of paying the amount then the shares will be sold by Upstox to recover the same.
• Short position - User will need to deliver the shares from his demat account and if the user doesn't have the same, the shares will be auctioned to close the settlement process.

Additionally, any losses or penalties arising from the entire settlement process are borne by the client.