Is POA mandatory in Finvasia?

POA is a way by which you can authorize your broker to directly sell shares from your demat account. But its not mandatory because in case you do not want to provide a POA to your broker, you can send them a signed DIS (physical), or easiest (online) to sell shares. Giving a POA to Finvasia is also not mandatory.

Why is POA required?

When you sell shares during market hours, the shares are debited from your (sellers) account to deliver to the buyer. We need the Power of Attorney (POA) to debit these shares from your demat account.

How do I send POA to Finvasia?

You can download the POA form from here: https://www.finvasia.com/download And send it to: Finvasia Centre, D-179, Phase 8 B (Sector-74), Mohali 160055 Punjab, India.

Is POA mandatory as per Sebi?

Sebi in April 2010 had said that PoA must not be made a mandatory condition for availing broking or DP services. PoA is merely an option available to the client for instructinghis broker or depository participant to facilitate the delivery of shares and pay-in/pay-out of funds etc.

What if there is no power of attorney when someone dies?

What about power of attorney when someone dies? You cannot apply for power of attorney after someone’s death – instead, the instructions of the will take precedence. If the donor dies without a will, then the estate will be divided according to the rules of intestacy, by an administrator.

What is Finvasia prism?

Finvasia Support Prism – Our in-house custom client portal – PRISM, allows clients to view and analyze their investments under a single login. For any query, request, complaint, modification, and suggestions you can raise a ticket. Your query will be resolved within 24 hours.

Is POA mandatory in stock market?

So, power of attorney is not a mandatory document to be signed, nd it doesn’t come into the picture when you buy shares. It might only be required, when you try to sell those shares from your demat account or pledge them margins in futures and options trading.