Settling before T+3?

What is the penalty for short selling?

Rs. 1,00,000 per client, whichever is lower, subject to a minimum penalty of Rs.
Short Reporting of Margins in Client Margin Reporting Files.

Short collection for each client	Penalty percentage
(< Rs 1 lakh) And (< 10% of applicable margin)	0.5%
(= Rs 1 lakh) Or (= 10% of applicable margin)	1.0%