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

N

nandu

Member
#1
#1
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.
 
S

SUMOGAN

Member
#3
#3
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
 
N

nandu

Member
#4
#4
SUMOGAN said:
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
Click to expand...
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.
 
S

SUMOGAN

Member
#5
#5
nandu said:
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.
Click to expand...
Just prefix YYYYMMDD and 0 (zero) to fill the required digit.
 
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