Comment on POA - Power of Attorney for your Demat account

Sekhar commented on 13 Dec 2013, 08:25 PM

I received an email today with subject ‘Update on DP Power of Attorney’. Believe me I had no idea of what it said. I searched for ‘Pool account’ first and was afraid a bit when other sites explained that your broker may take away your ben shares without your knowledge and stuff into the pool account. Then somehow with a different search term I landed here and satisfied with what was said. Looks like this is sorta necessary to give your broker the PoA.

2.) Going through other comments here, you mentioned about some news regarding your own DP next year. When it materializes, I hope you will provide your existing customers a seamless transfer from ILFS to your DP. Having accounts with same broker and DP will be easy.

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