What is the risk in not sigining up Power of Attorney???

nandu · #1 22nd July 2007, 10:50 PM

What is the risk in not sigining up Power of Attorney???. these brokers say transactions gets delayed and cannot be executed sometimes if i do not send the delivery challan??. can any one tell me??. I feel these brokers can manuplate my DP, if i sign up my POA.

nandu · #2 23rd July 2007, 11:42 AM

recently i heard ndsl has a facility to send the delivery challan via Email through speed-e???. did any one heard of that

SUMOGAN · #3 23rd July 2007, 03:06 PM

You can settle your sale obligations of your own through a Delivery instruction to your DP. But you have the risk on knowing the settlement number , PAY-IN dates (some times two settlements will have a PAY-In on same day). So it is better to execute POA and as all the transactions are trackable you will easily know the movement of shares as well which you execute if also not a general POA it is called Specific POA where it will be used only for the exchange PAY-IN obligations and not for any OFF-Market Transfers.

Also Seed-E facility from NSDL is a facility of executing instruction on its site after you login. This facility is also charged with an AMC as well as none of the BO can transact directly with NSDL or CDSL they are the depositories and all the Beneficary Owners should approch only the concern DP (depository partifcipants)

Last, if you dont trust your member broker then better shift

Regards
SunilMogan

nandu · #4 23rd July 2007, 05:39 PM

Quote:

Originally Posted by SUMOGAN

You can settle your sale obligations of your own through a Delivery instruction to your DP. But you have the risk on knowing the settlement number , PAY-IN dates (some times two settlements will have a PAY-In on same day). So it is better to execute POA and as all the transactions are trackable you will easily know the movement of shares as well which you execute if also not a general POA it is called Specific POA where it will be used only for the exchange PAY-IN obligations and not for any OFF-Market Transfers.

Also Seed-E facility from NSDL is a facility of executing instruction on its site after you login. This facility is also charged with an AMC as well as none of the BO can transact directly with NSDL or CDSL they are the depositories and all the Beneficary Owners should approch only the concern DP (depository partifcipants)

Last, if you dont trust your member broker then better shift

Regards
SunilMogan

thanks sunil...can u tell me how to track a transaction has taken place with my broker at nse or bse website...coz in the contract note the order number has 15-digit and trade number has 7-digit only.

SUMOGAN · #5 23rd July 2007, 06:29 PM

Quote:

Originally Posted by nandu

thanks sunil...can u tell me how to track a transaction has taken place with my broker at nse or bse website...coz in the contract note the order number has 15-digit and trade number has 7-digit only.

Just prefix YYYYMMDD and 0 (zero) to fill the required digit.

nandu · #6 23rd July 2007, 09:38 PM

Quote:

Originally Posted by SUMOGAN

Just prefix YYYYMMDD and 0 (zero) to fill the required digit.

what??????.....will it not be generated (all are Computerized these days!!!). If we enter all the numbers on our own.whats the use of sending Contract note?.

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