Comment on POA - Power of Attorney for your Demat account

Nitin commented on 13 Dec 2016, 01:11 PM

Hi Nithin/Others concerned,

I recently initiated an online opening of trading + demat account with zerodha. While going through the POA form , I had a few doubts that weren’t resolved from the above discussions-

1. As i understood from the document , the POA gives zerodha the power to debit/sell off securities from my demat account with zerodha – but does it also gives zerodha the power to debit money from my trading account with zerodha under any circumstance ?

2. In a scenario where zerodha has to sell off securities from my demat account for some xyz recovery of dues- will I be intimated before hand so that I can maybe clear off the dues via some other channel instead of the sale ?

3. Does this POA give zerodha any right whatsoever over my savings account that has been linked to the demat and trading account at zerodha ?

I understand that POA is required for online trades but I just want to be clear on the above points before signing the POA. Awaiting the reply.


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