The country's largest custodian, which has already lodged a complaint with Sebi for the delay, has said that it should be paid interest for the period of delay. At the same time, the exchange should compensate the clients for any corporate benefit that they may have lost owing to their failure to lodge the shares with the registrars on time, the custodian said.

A complete chaos at the clearing house saw huge gaps in the number of shares delivered to custodians despite the latter having made payments for the same and the exchange declaring that settlements had been completed.

When the situation assumed glaring proportions, custodians like SHCIL, Deutsche Bank and Citibankapproached Sebi for its intervention.

As on Thursday, the value of shares that still need to be delivered to SHCIL stand at Rs 1.13 crore, and sources said that this figure is slated to come down further by Friday.

Sources, however, confirmed that SHCIL had asked for compensation. It has for the time being not decided to seek compensation for the amount of custody charge that it has lost for the period the shares were in the custody of the clearing house.

"For our clients, however, we have sought a payment of a certain interest for the period for which the shares were not delivered. The quantum of interest would be decided after detailed talks with the clearing house.

" On the other hand, we have also asked the clearing house to compensate our clients for all the corporate benefits they may have lost as they could not submit the shares for transfer as these were not in their possession," said a source.

The modalities of the compensation would be worked out once the entire mismatch is sorted out.Sebi is already looking into the reasons for the mess at the clearing house and the initial feeling is that it was a case of gross inefficiency.

The regulator, too, is waiting for the reconciliation to be completed before taking any further action.