Can an NRI operate more than one orbis account using more than one CP code? If say an NRI already has a cp code with another broker can he open another orbis account with zerodha?
No. You can only have one CP code. This restriction is PAN-based at the clearing corporation level. Further, if you have generated a CP code, you cannot generate a new one while the old one is still in existence.
The clearing corporation will validate your PAN before issuing a new CP code.
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Thank you for your response. Can you also tell me if pledging of equity holdings is allowed for NRIs and to use the funds as collateral against derivatives?