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. Just make sure to enter the OTP sent to your registered phone number and email ID.
Once you authorise the transfer by entering your OTP, you'll be allowed to sell your shares. Rs. 20 lakhs is the daily limit as advised by CDSL for selling your holdings.
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.