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Old 10-10-2009, 12:57 AM
thakkarps thakkarps is offline
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Default Power of Attorney to Brokers

We all give power of Attorney to our brokers
And we normally dont read them and very few must have taken a xerox copies after we sign the a/c opening forms with brokers
Nseindia has put up a pdf file which contains all the details of types of POA are there and what type of Poa we have given to our brokers.
Brokers are very shrewed and their Rm's have many time misused many investors funds and shares in demat .
We say our shares are in demat with Nsdl or Cdsl but our POA gives them full power . It is like we have given our online bank password to the broker's Rm whom we have not seen or met and then when problem arises these same brokers are not ready to listen us.

So beware before signing on the dotted line otherwise the same story would be repeated of 2008 when funds and stocks were all used by these Rm and broker nexus.

It is only if we become vigil then and then only these brokers will not cheat us.
Download it from the below link
http://www.nseindia.com/content/press/total_poa.pdf
remove spaces from the link
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Old 30-10-2009, 04:21 PM
jhnsmith978 jhnsmith978 is offline
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Hey thanks for the information man..
I think I'm gonna check the broker's background first. The time of existence is very important! Then I would definitely check the online support of the company. Its really nice information..
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Old 26-10-2010, 04:13 PM
emmamartin emmamartin is offline
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I also read it somewhere that Sebi has also told the brokers that PoAs cannot be mandatory for availing broking services and it is merely an option available to the client to facilitate delivery of shares and funds.If any have more idea about this then pleas mention here , I am eagerly waiting for this .
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Old 04-02-2018, 05:44 PM
xxxyyyqqqwww xxxyyyqqqwww is offline
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Now CDSL and NSDL has launched the facility of online transfer of shares by the client himself/herself. CDSL calls it by easiest and NSDL calls it Speed-e . Hence, the Power of Attorney, that was earlier required by the broker to transfer shares when a client sells it in an Exchange is now not required.
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