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Each one of you when opening a demat account with an online broker would have had to sign a POA Power of Attorney.
Sounds like a very serious document and hence arises a lot of questions from investors on why exactly you are signing this piece of document.
My first recall of the acronym POA was from the movie Baazigar, where Shah Rukh Khan and the villain both at various times in the movie use it to transfer all assets into their name. I will write down in this blog what a POA is, what can be done with it and what are its various uses. When you sell shares or want to pledge them, that is when the shares are going out of your demat account, this is when the POA is required if it has to be done online.
Traditionally offline method , you would have to send the delivery instruction slip asking to debit the shares from your demat and send it to the brokers office. Once the slip is received at the broker, he would debit your demat account. Some of the issues with this method were: With the advent of online broking the above method was no more viable. POA was introduced for smooth operation of the demat account. With the power of the POA, everytime you sell shares the broker uses it to debit the shares from your demat account and provide it to the exchange.
POA is also used to debit shares from your demat account when you intend to pledge them to get collateral margin for trading futures and options. Find following a brief about what a POA is and why it is required:. Power of Attorney POA is a legal document giving legal authority to another person to operate your account in this case the demat account as per the instructions contained. Remember it is required only for the demat account.
While trading futures and options or intraday equity trading, there is no requirement of the POA. This ensures that the entire process is online and less cumbersome. POA, though not a mandatory document to be signed, is required for smooth operation of your demat account.
Hopefully this clarifies your doubts about POA. Love playing poker, basketball, and guitar. Sir, I have been opened demate and trading account in zerodha though online.
After a purchase of shares in a delivery base, the shares are now shown in my holdings in very next day. I contacted by phone to support zerodha.
I asked him my above query with him. He intimated me that I have to send POA for selling shares. But before the purchase of delivery shares nobody your staff guided me to that I have to first send POA. Please issue necessary directions to concerned team show my shares in my holding. I will send my POA shortly by courier. Hey Shreedhar, the PoA is absolutely necessary to sell shares from your holdings.
No way to sell through our platform until it is executed. Jenith, check out our contact page: Hi Mr Nithin, I really liked services from Zerodha. I have been writing to Zerodha support for a long time but everytime they write that they will do it once their new back office gets operational.
Could you please provide estimated time when I will be able to see the correct avg prices of such type of shares in my portfolio? Hey Abhishek, this should be fixed soon with the new Q. The current platform is a vendor platform and has some issues. If the power of attorney is required to sell online, then you can use this power of attorney to sell the shares with my Demat account without my knowledge.
Ok sir For how many days the poa remains valid.? I have opened the account on your trust. And I hope you will live up to our trust. I heard that Zerodha did not put the share in Demat and rather keep shares in pool. How do I make sure my investment in equity is in Demat and not pool. Of course not, we never keep shares in the pool. When you buy a stock, as soon as stock hits your demat you get a message from CDSL our depository.
You can login to CDSL and double check if stocks are in your demat or pool. Today found that not all shares were transferred to demat account. Have sent a mail to support. Waiting for their reply.
The PoA form has 2 Witness, Do I need to send witness details or it will taken care at back-office processing? Hey Zerodha, I have really liked ur service, I had opened online. Or we have to trade after POA process itself..?? Sorry I had opened offline, so I had already signed it. My frnd opened online, does he needs to submit POA and then start trading..?? Or we can trade in options without POA for tmrw..??
Hey Shridhar, you can place options trades without the PoA. PoA is only required to sell shares from the demat account. In short period of time you have achieved great success but team should also maintain that success when you have grown in large. Please note i have send Speed Post on POA can be missused to transfer shares from one account to another?
There is no way to be online without a POA, every online broker in the country would require this. It is a necessary evil, but as brokers because of our internal policies of no margin funding, not keeping stocks in pool and and etc… We are probably a lot safer than a lot of your other traditional brokers..
Prithiviraj, yes, leverage is provided for intraday. Check out the margin calculator for more. Ok, i understand it but lets be on safer side is there any real time alert when share moves from respective demat account.?
Amit, We open NSDL demat accounts for you and you will receive sms from them both when there is a credit or debit from your demat account when it gets debited.. Just wanted to know whether Zerodha has some plans where it plays with Investors shares?. Do check with Robinhood app its for US similar to Zerodha.
They have this feature for traders as an option within the dashboard. Do you have any such plans near plans? Just in case customers like me who are interested i feel we at least should have an option.
Can you drop the AMC once and or all or atleast keep it one time payment like others. I have a ICICI Demat acc and want to link it with Zerodha trading acc… will it work seamlessly for both buy and sell in delivery based trades. I think best you open the demat with us itself.
You will not be able to sell your shares if you open demat with HDFC. Is there any process to refund me rs. Are you facing any trouble whilst opening the account? Now i want to change to sbicap or ilfs demat account. Is it possible and how to do it. Believe me I had no idea of what it said. Then somehow with a different search term I landed here and satisfied with what was said. Looks like this is sorta necessary to give your broker the PoA. Going through other comments here, you mentioned about some news regarding your own DP next year.
Having accounts with same broker and DP will be easy. While trading online, everytime you sell, we have to debit the shares from your demat account and provide to the exchange.
If this has to be done online and seamlessly the POA is required. We are hoping to have our own DP early next financial year, and yes we will try to keep it as seamless as possible. On POA, do I need to do franking or you will do franking? I just signed up today and completed everything online using Adhar but now stuck with physical POA form. The form shows the place to be Banglore.
While I am not present in Banglore and only sending it to Banglore via courier, am I required to write date and time in the spaces given for them??? Page 1 of PoA: One across the page and one at the end of the page Page 2 of PoA: Partha, yes you can link your sharekhan DP with Zerodha trading, courier a copy of your sharekhan client master, and a request letter asking to map your Sharekhan DP to your trading account.
The only issue with this is that when you buy shares will be credited to your sharekhan DP, but you would have to sell using your sharekhan trading account. Is the issue of not being able to sell via Zerodha applicable for all DPs? Will POA be required? There is no charge for depositing share to the demat, with us or HDFC, the DP transaction charge is applicable only when you sell shares and shares are debited from your demat account.
I have sent a email to Zerodha, based on which, the pledged shares were transferred from my D-Mat account to Zerodha Pool. I keep adding more shares also to the pool, increase my margin.