Is it mandatory to give POA to broker?
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Is it mandatory to give POA to broker?
By giving PoA to the broker, you are allowing him to withdraw the shares from your demat account on your behalf. Power of Attorney is not mandatory. It is your choice to give it or not. If can the share doesn’t reach to the broker in-time, he has to buy them from the market and settle the transaction.
How do you sell holding without a POA?
At Upstox, the e-DIS (electronic-Delivery Instruction Slip) facility enables you to sell your shares directly without having to courier a physical copy of the POA. Once you click ‘SELL’, you’ll be prompted to give your permission to sell your shares.
Trading in dematerialised securities is done through your broker just like trading in physical securities. You sell your dematerialised securities in any of the stock exchanges linked to NSDL through a broker of your choice.
Can I do intraday trading without PoA?
Can I do Intraday Trading without POA? Yes, you may do intraday trading and even futures and options without a POA. So, power of attorney is not a mandatory document to be signed, nd it doesn’t come into the picture when you buy shares.
Electronic Delivery Instruction Slip or eDIS is a facility which allows you to sell shares even if you have not submitted your Power of Attorney (POA). Please note: You can only sell the stocks/Mutual Funds you are holding in the Demat. We recommended you submit your POA to ensure a seamless trading experience.
How do I convert POA to non-POA?
If you have not submitted the POA, you will be prompted to authorise the delivery sell transaction as shown below: In case you want to change your non-POA account to a POA account, you can download the document here and sign & courier it to our office for the mapping.
Options to Sell shares from Non POA NSDL Demat Account You may just transfer shares online using Speed E and your instructions will be downloaded by Tradeplus depository from SPEED-e website to do the needful. You can register for Speed-e as a Password user or as a Smart Card User.
How do I sell shares through eDIS?
-First, generate a TPIN from the profile section if you are using SHOONYA web. For mobile, the TPIN will be generated once you start the authorization process. -Then, click on “Square off” on the share you want to sell and select “Request eDIS” and enter the quantity you want authorization for. -Enter OTP & verify.