1

“POA” OR POWER OF ATTORNEYweb.angelbackoffice.com/angelbroking/econnect/POA... · A Power of Attorney or POA is basically a written permission or authorisation given by you to

  • Upload
    others

  • View
    2

  • Download
    0

Embed Size (px)

Citation preview

Page 1: “POA” OR POWER OF ATTORNEYweb.angelbackoffice.com/angelbroking/econnect/POA... · A Power of Attorney or POA is basically a written permission or authorisation given by you to

“POA” OR POWER OF ATTORNEY

A Power of Attorney or POA is basically a written permission or authorisation given by you to us, your broker (Angel Broking), to represent you or act on your behalf in certain business matters as specified in the legal POA document.

As instructed by SEBI, we need the signed POA to debit shares from your demat account and provide it to the exchange on your behalf. This ensures you can sell shares from your demat account or pledge them for getting margin for trading F&O, through a completely online, quick and easy process.

Without your signed POA you can only buy shares but not sell or pledge them online. Selling and pledging your shares offline consists of a cumbersome, risky and time-taking process (of submitting delivery instruction slips) which is practically obsolete and not used by smart traders.

Signing the POA makes trading via your demat account simple, easy, quick and fully online. With easy transactions, you reduce the cost associated with execution ofa sell order, reduce the risk of auction, can avoid penalty expenses to stock exchange. You do not have to run around for submitting delivery instruction slips.

Signing the POA in favour of Angel Broking is completely safe. The POA document that we send you is approved by SEBI and gives us limited authority. You can revoke the POA rights whenever you want.

We as your broker will have only specific rights – transfer securities to a stock exchange when you sell shares or pledge the securities with the broker for a limited time. We can in no way bar you from operating your account.

What is POA?

Why do you need to sign the POA?

What happens if you don’t sign the POA?

What are the benefits of POA?

Is it Safe?