Is power of attorney necessary for trading account?

Power of Attorney is not mandatory. It is your choice to give it or not. No broker can force you to give PoA. If can the share doesn’t reach to the broker in-time, he has to buy them from the market and settle the transaction.

Is it safe to give power of attorney to Zerodha?

Its completely safe to transfer a Power of Attorney to Zerodha while opening a Demat account. Zerodha is a trusted brand name in market and they don’t misuse any of the client documents. Well, now-a-days that is also ruled out because there is no need for you to send the POA documents to zerodha.

How do I cancel PoA to Zerodha?

The Zerodha or Upstox account holders who have signed and submitted their power of attorney forms (POA) can revoke or cancel their POA at any time they want. They can do that offline by writing a request letter to Zerodha or Upstox head office to revoke their POA.

How do I sell stock without POA?

In case you are not able to send the physical copy of the POA, and still need to sell your stocks, you may give us an electronic instruction to debit the shares from your demat account and transfer those shares to our pool account for payin to the Exchange. You can then sell the shares from the trading terminal.

How do I withdraw from Zerodha POA?

Can a broker misuse power of attorney?

Technically a broker can misuse the Power of Attorney (POA) by selling your demat holding without you placing a sell order. But the brokers are highly regulated entities. Any such misconduct could result in to very high penalties or even loosing the membership of exchange and depository (CDSL/NSDL).

How do I get my POA back from Zerodha?

You can fill, sign and send it to our head office. Note: It takes up to 5 working days to process the request once we receive the form. The POA revocation can only be done for resident individuals for now.