Power of attorney

Well i have submitted all my documents .But now the broker says power of attorney is remaining.

This is the copy of same(it says on stamp paper) but person said xerox will do.

Is it genuine and should i go ahead.

He said without this paper i wont be allowed to trade

Broker is angel broking whereas my account is with hdfc bank

http://img29.imageshack.us/i/img0001tn.jpg/

i opened the accnt with religare in mar08.

did all the paper work that time. but never got a photocopy of POA.

After a lot of arguments with BM, finally got it today.

it till has my name & sign on it, with nothing filled, not even company seal & auth signatures.

so these are few facts.
1. They only use docs only in case of emergency or dispute. till then they just keep it for records.
2. If ur broker is reputable with many branches across india (like iniabulls & reliagare), then is safe to sing POA. that can save u maintenance charges many times.
JUST MAKE SURE U SIGN REVOCABLE POA. (so u can undo it any time)

3. just try to get the meaning of POA. in plane english, ur signing ur death warrant. the broker can twist ur neck anytime. (just kidding....easy).

4. u better read the pdf on nseindia for the POA thing. they have explained things good.

5. U can always trade w/o POA. these will be followed by some extra charges. but can make ur life safe.

Logik
PS: m gonna do a study on this POA thing. this matter is bugging since long time. The broker office ppl will never tell u the truth. & we as customer are too stupid/lazy to do some hard work. Just let me have some spare time & i will come with something.

hey Logik,
Did you manage to research on the POA issue. Geojit is forcing me to sign a POA for ONLINE demat/trading account and refusing to open the account without it. Appreciate your comments on this POA issue.

Thanks.

Regards,
cg