Comment on Various Types of Accounts

Aashish Agarwal commented on 18 Jan 2014, 12:39 PM

Hi there…

I am planning to open an Equity trading account with Zerodha and a demat account with lets say Axis Bank. I read above that I can take delivery of shares through Zerodha (buying on Zerodha platform & crediting in Axis Demat) but when I have to sell those shares I have to use Axis trading account.

Now, I do not plan to open trading account with Axis Bank. I plan to sell those shares on Zerodha platform itself & give instructions (before settlement) to debit my Axis Demat through NSDL’s Electronic DIS (Speed-e) for Zerodha to be able to debit my Axis Demat. I further wish to state that I do not intend to execute any Limited PoA in favour of Zerodha for it to debit/operate my Axis demat in any way.

I want to know whether Zerodha permits the above arrangement?

I am in touch with your sales rep & she uses the words “Axis will sell” inspite of me telling her that I won’t be having any trading account with Axis for it to be able to act my broker & sell the shares!

Thanks & Regards

aashish.

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