How to sell shares without a physical POA?
Submitting a physical copy of the POA (Power Of Attorney) form is mandatory when you open a demat account. You are not allowed to sell your holdings if you've not submitted your POA in a physical format.
However, there's a new way that makes it possible for you to sell your holdings without having to go through the hassle of sending a physical courier. It is called the e-DIS that stands for electronic Delivery Instruction Slip.
If you're placing a SELL order via either of the two Upstox Pro platforms--mobile or web, you'll be directed to a window with a message. This message basically ask for your permission to sell your shares online using the e-DIS facility.
Its a 3 step process.
Step 1: Click on ‘Review’ on your order entry screen (while placing a sell order for your holdings). This will open a new page/window, which will ask you to authorize the transfer of shares from your Demat account to the Upstox pool account via E-DIS.
Step 2: Click on ‘Continue’. You will be redirected to the CDSL web page, where you need to input your TPIN and confirm the transaction. You will also be able to see your holdings along with the quantity on this page.
Step 3: Once you enter your TPIN, you will be redirected to the status page, which will show a success or failure status (along with the reason). You need to now close this page and return back to our web or mobile platform.
Once you authorise the transfer by entering your TPIN, you'll be allowed to sell your shares. Rs. 75 lakhs is the daily limit as advised by CDSL for selling your holdings.
TPIN can be generated by visiting the profile section of the app. Also an option can be found on the authorize page to generate a TPIN.
You can see the option of E-DIS only in the following scenarios:
- Placing a SELL order.
- Modifying a SELL order that is marked as Delivery.
- Changing a short position from Intraday order to Delivery.
If you do not wish to see the option of E-DIS while trading, then you will be required to courier the physical copy of the POA form to our corporate office address.