i have opened new account but if i send poa form stock broker can sell our shares on their own is it right?
Yes, Technically They can if situation demands.
To start investing and to sell the shares in your demat you will need to sign the POA anyway. No option otherwise.
Sir situation demands mean? If i dont sell from my side ? Can they still debit it?
Yes they can but that would be same as the bank debiting your bank account without your authority. In extreme cases brokers have fradulently debited client accounts and went bankrupt.
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Sir already many people gave this link still i am not clesr whether to send it or not if they can sell our shares on their own
They won’t sell without your prior confirmation. Daily you can view your demat holdings by login to back office and CDSL easi.
Any trade happen in your account, you will get sms/email alert from the exchanges.
Most of the big names in brokerage business have own DP thus you have to open a demat account with them plus with some you must have bank account with them too thus POA become a necessity .If you are very particular about not giving POA open your trading account with a small broker who do not have own DP and the dp can be opened with any cooperative bank /SHCL and bank account with the same cooperative bank or your existing bank account.in such case you when you sell you have to give manual delivery or through nsdl speed e or cdsl easi and rtgc for fund transfer in case of purchase.
can i not use delivery slip in zerodha
@hardcore_gamer29
Have you seen how delivery slip look like? I bet not. Go take a look at it and you will know why POA is required, why you cannot use DS for trading.