Comment on POA - Power of Attorney for your Demat account
commented on
24 Nov 2017, 11:13 AM
We’ll have the name thing to updated ASAP. Seems to be a data entry issue. As for the residual securities flag, since stocks can’t be allocated in decimals, if there are any leftover stocks after dividing the stocks among the two nominees, any remaining stocks will be credited to the nominee who has the flag marked as yes. If you’ve not explicitly mentioned which nominee you want this to be, it’s the first nominee mentioned in the nomination form. Suppose you have 11 stocks of Reliance that need to be moved to the nominees’ ownership and you’ve asked to divide the securities equally, 5 stocks each are credited to both the nominees and the additional stock left over is credited to the first nominee.