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ZeroDha PoA while opening DMAT account

Discussion in 'Brokers' started by manoj_bagul, Feb 1, 2016.

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  1. manoj_bagul

    manoj_bagul New Member

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    Hello,
    Should we give PoA(Power of Attorney) to the broker while opening DEMT account?
    Why it is required?
    What will happen if I dont give PoA?
    Have you heard any misuse by Zerodha?
     
    manoj_bagul, Feb 1, 2016
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  2. shabbir

    shabbir Administrator Staff Member

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    Haven't heard of any misuse but then if you don't allow it, they will not be able to execute your trade over the phone. Not sure but that is what it needs the PoA for as far as I have asked them.
     
    shabbir, Feb 2, 2016
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  3. manoj_bagul

    manoj_bagul New Member

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    Thanks Shabbir. What they informed me is that if PoA is not provided then we wont be able to sell shares(equity Delivery) from DMAT account using online interface as broker doesn't have permission to take out shares from DMAT account. We will have to go through offline process i.e. submitting delivery slips etc for selling. Its not required for intraday as no shares are deposited in DMAT account.
     
    manoj_bagul, Feb 2, 2016
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  4. shabbir

    shabbir Administrator Staff Member

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    Could be a reason as well. I knew they will not be trade on your behalf over the phone can be other option as well.
     
    shabbir, Feb 2, 2016
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