Power of Attorney (POA) is a legal document which is required as per regulations for smooth operation of demat accounts such as debit of shares(selling), pledging, etc. Until we’ve received your POA, the stocks/bonds in your demat account will not be visible to you in any of the trading applications. They will only be visible in BOX back office.

In case you are not able to send the physical copy of the POA, and still need to sell your stocks, you may give us an electronic instruction to debit the shares from your demat account and transfer those shares to our pool account for payin to the Exchange. You can then sell the shares from the trading terminal.

How to give this electronic instruction?

  1. Go to Box (through Sine or by visiting BOX Back office)
  2. Go to Reports > My Portfolio. You’ll see a screen as shown below

  3. You’ll find a button “Sell without POA” for every stock.
  4. Click on this button for the stock you wish to see and sell through a trading application.
  5. This will open a new page/window, which will ask you to authorize the transfer of shares from your Demat account to our pool account via E-DIS for selling purposes. Please click on the “Continue” button to proceed further.
    1. In case the OTP is not generated from CDSL then you shall be taken to CDSL website as shown below.
    2. Enter BO (Beneficiary Owner) ID, Pan number and generate the TPIN. You may find BO ID from BOX My Profile section. Click on “Download Client Master”.
    3. You shall receive a TPIN to your registered mobile number and email ID from CDSL.
    4. After you generate the TPIN from the CDSL site, kindly come back to BOX back office >> My portfolio page, enter the TPIN and proceed further.
  6. After clicking on the Continue button. You will be redirected to CDSL’s website and will be prompted to enter an TPIN which is sent to your registered phone number and email ID from CDSL.
  7. After you enter the above TPIN, your stock will be redirected to BOX and your holdings shall be displayed in the trading application.
  8. You will now be allowed to sell your shares using any of our trading applications.

Points to note

  • A separate instruction is required for each stock and it’ll be valid for that day only. In case you change your mind and decide to sell the stock the next day, you’ll need to give another instruction on the day of selling.
  • The option of “Sell without POA” will be available only for those stocks which have been delivered to your demat account i.e Stock in Holdings and may not be visible for Stock in Clearance (which are yet to be delivered from the Exchange)
  • Maximum value of the shares you can sell using the above method is only Rs.75 lakhs per day.
  • The “Sell without POA” button shall be available only between 8:00 AM to 4:00 PM on trading Days.
  • This button shall not be available if you have sent us the hard copy of POA.
  • This online instruction shall not be applicable for transfer of shares and corporate actions such as buyback or takeover corporate action activities.

For a seamless trading, smoother function of the demat account, please courier us the duly filled and signed POA at our Mumbai Corporate office. You may click here to know more on POA requirements.

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Comments

    1. Trade Smart Online Article Author

      Hello Jyoti,
      If you want to sell the stock without POA then you can use E-DIS which will be applicable to that particular stock which you want to sell without POA for that day. You do not have to submit CML or DIS. However, we would request you to submit hard copy of POA to our address for smooth functioning of your trading experience. Know more.

    1. TradeSmart Article Author

      Hello Saicharan,
      Can you please let us know whether you are facing any issue? It would be great if you could share us the reason for account closure. This will help us to improve our service further.

    2. Satya Vir

      The share I bought today cannot sell tomorrow without PoA or back office complicated process. But in zerodha and other brokers, it is not the case. Client can sell anyday, why so?

      Also as per SEBI, guidelines, clients need not to provide PoA. Still why are u asking, have u not readen SEBI circular.

      Please clarify with logic and rule.

      Thanks

      1. TradeSmart Article Author

        Hello Satya,
        We understand you wish to do BTST using “Sell without PoA” feature. The option of “Sell without POA” will be available only for those stocks which have been delivered to your demat account i.e. Stock in Holdings and may not be visible for Stock in Clearance (which are yet to be delivered from the Exchange). The same is done to ensure the betterment of risk management and to avoid any sort of auction penalty which may take place otherwise.

  1. PANKAJ KUMAR

    I cant find any “Sell without POA” button in Portfolio section. I also dont remember if I have given any POA in written, please help me out. what should I do to manage my holdings.

    1. TradeSmart Article Author

      Hello Yeddu,
      Thank you for opening an account with TradeSmart. You shall be able to sell your shares without submitting the physical copy of Power of Attorney (PoA). Please refer to this link to know more how to sell share without physical PoA.

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