Hello I am a Engineer + CFA and I am looking for establish a (Stock Broker + Proprietary Trading Firm) and Later following with PMS Company in India?
What licence, Registrations, access should I have before I start The Business and how the Business Structure of PROP Trading Firm and Stock Broking Works??
Please help!!
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Still Not Clarified SIR!!! 
Firstly, I want to clear a misconception.
No, You do not need to call each clients man. Please check here, https://www.sebi.gov.in/legal/circulars/sep-2017/prevention-of-unauthorised-trading-by-stock-brokers_36079.html
In that circular it is also written that -
To further strengthen regulatory provisions against un-authorized trades and also to harmonise the requirements across markets, it has now been decided that all brokers shall execute trades of clients only after keeping evidence of the client placing such order, it could be, inter alia, in the form of:
a.Physical record written & signed by client,
b.Telephone recording,
c.Emailfrom authorized email id,
d.Log for internet transactions,
e.Record of SMS messages,
f.Any other legally verifiable record.When dispute arises, the burden of proof will be on the broker to produce the above records for the disputed trades
You can effectively maintain this thing as a Log for internet transactions, which can be accessed from authorized email ID only. or from SMS OTP verification from authorized phone
PS: I had a huge dispute over broker (Not Zerodha - Zerodha is very good and straight - They don’t give dealer terminal but used to give once in their early days) and I am still not using voice confirmation and neither downloaded an app they have made. But I am compiling with their all rules properly. I had moved a huge client base to that broker and after the transfer, they started all this nonsense so things got dragged with lawyer letters.
PPS: Always keep eye on SEBI circulars dot to dot.
PPPS: Please focus on the words - only after