What is power of attorney (PoA) and why is it needed?
Power of Attorney (POA) is a document that gives us the authorization to debit your shares from your demat account whenever you sell your shares.
If you have not submitted the POA, you will be able to place delivery sell instructions by using the CDSL TPIN. This mode of consent has a restriction of a maximum of Rs 1 crore of sell transactions per day. The off-market transfers are limited at Rs. 2 lacs per scrip and Rs. 10 lacs overall per day.
If you have a portfolio of over Rs 1 crore and wish to sell more than Rs 1 crore of stocks from your holding in a day, you will have to send us the POA. Similarly, for pledge transactions or mutual fund transactions through Coin greater than the off-market limit you will need to send the POA.