Mandatory hardcopy of POA
Your Power of Attorney letter is a legal document that grants a limited level of permission to your broker to conduct transactions and transfer shares to the exchange on your behalf.
Upstox is the first broker to start the electronic delivery instruction slip service. The e-DIS lets you sell stocks from your Upstox demat account in realtime without having to send us your POA in a courier. Whenever you place an order and click SELL via any of the Upstox Pro platforms, you'll be taken to a web page that seeks your permission to sell shares online using the e-DIS facility. Just authorize your transaction to sell of shares!
Just to ensure your safety, this authorization will be taken on the web page of CDSL (depository partner). TPIN will be provided by CDSL on your mobile and email to complete this transaction.
Prior to the introduction of the e-DIS facility, you would have to courier us the physical copy of your Power Of Attorney form to our mailing address in order to be able to sell shares from your Upstox demat account. The Upstox team wanted to change that and make buying and selling of stocks more seamless.