Power of Attorney and Freezing of demat account

Biker

Active Member
#1
I want to know that if I freeze my demat account for debit transactions and give Power of Attorney (POA) to my broker then will they be able to debit shares from my account in that case?

Does POA give my broker the right to lift the debit freeze and then debit my shares?
 
#2
I want to know that if I freeze my demat account for debit transactions and give Power of Attorney (POA) to my broker then will they be able to debit shares from my account in that case?

Does POA give my broker the right to lift the debit freeze and then debit my shares?
Such topics you directly deal out with your broker/house and by checking all what is written in any contract you have with him, as this can be handled individually from different brokers.

Take care / Dan​
 

Biker

Active Member
#3
Such topics you directly deal out with your broker/house and by checking all what is written in any contract you have with him, as this can be handled individually from different brokers.

Take care / Dan​
Yes, but since as nearly all brokers take retail investors for a ride and might not suggest what is true, so thought to take second opinion from knowledgeable memebers here.

And since all brokers are regulated by SEBI guidelines and their actions are standardised, so all these issues should be same across brokers.
 

mohan.sic

Well-Known Member
#4
Yes, but since as nearly all brokers take retail investors for a ride and might not suggest what is true, so thought to take second opinion from knowledgeable memebers here.

And since all brokers are regulated by SEBI guidelines and their actions are standardised, so all these issues should be same across brokers.
If you sign the POA your broker will have authorization for auto bebit.
If you dont give the poa, your broker cant do it. You need to submit instrucion slip every time you sell the stock.( delivery instruction slips will be provided by your broker )

Providing a slip in time for every sell is difficult.
so generally brokers dont prefer ac's without poa. some even wont open such accounts.
 

Broker Special Offers

Intraday Higher Leverage

Save up to 90% in brokerage and get higher leverage for intraday trades.

Name:Phone:
Email:City:
State:
Are you a day trader?