Hot Deal Zerodha

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I opened my zerodha account on 8 December through ekyc and sent the POA form on the same day through speedpost.on 11 December at 7 p.m my POA form was delivered to zerodha but till now they haven’t updated it or given any confirmation.
Can anyone tell me how much time do they take to update POA?

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7 Dimers
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It will be done in a week time, meanwhile you can purchase the share and sell on intraday basis but can’t after T+1 time.

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ModMod wrote:

It will be done in a week time, meanwhile you can purchase the share and sell on intraday basis but can’t after T+1 time.

Not able to sell any CNC stock

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OnlineBewda wrote:

Kitne rupeeye hai Invest ko ?

haha share mkt ki baat ayi ni ki tu active hogya https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif

kal camlin leke acha kama lega intra mei

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Zerodha back office is horrible these days. In July I sent them demat closing form which they misplaced. So I directly closed my demat with IL&FS. Again in August I sent trading account closure, took 2 weeks and several follow-ups to get account closed. Otherwise they’d planned own demat linking. Wait for 2-3 days else I’ll provide you ops head email id. That’ll fasten things up.

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MrKool_JJ wrote:

that’s btst call up zerodha and have a word with them regarding the same

For selling cnc, poa is required. btst is whole different thing. He is not able to see his shares in own trading platform however has purchased for delivery. Until zerod7ha gets poa, hell not able to sell any delivery (or even if do btst it will be turned as short selling)

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ModMod wrote:

It will be done in a week time, meanwhile you can purchase the share and sell on intraday basis but can’t after T+1 time.

Without poa, he can’t. zerodha doesn’t allow btst without demat and they put such orders as short selling. It’ll be tough job to deal with them for finding stocks to surrender in buyers place for settlement which zerodha doesn’t provide due to heavy number of customers.

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marketdimer wrote:

Without poa, he can’t. zerodha doesn’t allow btst without demat and they put such orders as short selling. It’ll be tough job to deal with them for finding stocks to surrender in buyers place for settlement which zerodha doesn’t provide due to heavy number of customers.

Thanks for your reply and can you pm me the email in case things doesn’t work out

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marketdimer wrote:

For selling cnc, poa is required. btst is whole different thing. He is not able to see his shares in own trading platform however has purchased for delivery. Until zerod7ha gets poa, hell not able to sell any delivery (or even if do btst it will be turned as short selling)

no mahn i have done btst lot of times.

i don’t know stbt’s logic however ya if i sell something without covering it the same day then ya i have to pay the penalty.

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MrKool_JJ wrote:

haha share mkt ki baat ayi ni ki tu active hogya https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif

kal camlin leke acha kama lega intra mei

U didnt buy my Jackpot share Did u ?

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cm4444 wrote:

which one https://cdn2.desidime.com/assets/textile-editor/icon_rolleyes.gif

Cash Package

1 Month 3 Months after 20% Discount 6 Months after 30% Discount 12 Months after 50% Discount
Rs. 5000/- Rs.15000-3000= 12000/- Rs.30000-9000= 21000/- Rs.60000-30000=30000/-
2-3 Intraday Cash/Equity trading tips with high 80%-85% accuracy.
2-3 Delivery & BTST tips in a Month.
Clear enter level, Target level and Stoploss level will be mentioned.
Exit message will be given if required.
Full Telephonic Support.
Pre-Market Outlook by SMS and yahoo messanger.
Package design for Day traders and Short term traders who can have 1-2 Open Deliverys at a time.

Click Here For Past Performance : Cash Package. https://cdn3.desidime.com/assets/textile-editor/icon_wink.gif

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Moderator
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OnlineBewda wrote:

Cash Package

1 Month 3 Months after 20% Discount 6 Months after 30% Discount 12 Months after 50% Discount
Rs. 5000/- Rs.15000-3000= 12000/- Rs.30000-9000= 21000/- Rs.60000-30000=30000/-
2-3 Intraday Cash/Equity trading tips with high 80%-85% accuracy.
2-3 Delivery & BTST tips in a Month.
Clear enter level, Target level and Stoploss level will be mentioned.
Exit message will be given if required.
Full Telephonic Support.
Pre-Market Outlook by SMS and yahoo messanger.
Package design for Day traders and Short term traders who can have 1-2 Open Deliverys at a time.

Click Here For Past Performance : Cash Package. https://cdn3.desidime.com/assets/textile-editor/icon_wink.gif

https://cdn0.desidime.com/attachments/photos/506393/medium/4702347tenor.gif?1513154721

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Call them directly.. OR ask them to call you back.. and that will help resolve the issue.. if they have misplaced it, you can atleast resend the POA docs.

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Open a ticket and tell the date/s or contract no. of your cnc orders and ask them to transfer shares to your dp. Mention your bo id mentioned in zerodha back office and tell you bought these shares and are not yet reflected in demat or your trading account. They’ll transfer them off-market (charging some amount) to your dp and will reflect in a day.

Reason is when you purchased shares without poa, zerodha keeps it in its pool account so client doesn’t sell them and become victim of short selling. Therefore they don’t transfer shares and thus your trading account doesn’t display shares. Once you open ticket an off market settlement will transfer shares to your bo id.

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MrKool_JJ wrote:

no mahn i have done btst lot of times.

i don’t know stbt’s logic however ya if i sell something without covering it the same day then ya i have to pay the penalty.

Prabhu, aap samajh bhi rahe hain issue kya hai? https://cdn1.desidime.com/assets/textile-editor/icon_confused.gif

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marketdimer wrote:

Open a ticket and tell the date/s or contract no. of your cnc orders and ask them to transfer shares to your dp. Mention your bo id mentioned in zerodha back office and tell you bought these shares and are not yet reflected in demat or your trading account. They’ll transfer them off-market (charging some amount) to your dp and will reflect in a day.

Reason is when you purchased shares without poa, zerodha keeps it in its pool account so client doesn’t sell them and become victim of short selling. Therefore they don’t transfer shares and thus your trading account doesn’t display shares. Once you open ticket an off market settlement will transfer shares to your bo id.

Become a victim of short selling ?? They can sell my shares??
By the way I have already opened a ticket stating tracking details

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vicky100 wrote:

Become a victim of short selling ?? They can sell my shares??
By the way I have already opened a ticket stating tracking details

No. You are not allowed to sell because you can’t commit shares to buyer without poa.

Let’s make thing easy. You buy a share, someone sells it. There’s broker in between and there’s exchange, nse or bse. Than there’s depositary, cdsl and nsdl. When you place order for delivery (cash and carry or cnc), broker becomes middleman to arrange prices trading at exchanges and fix a buy and sell order among themselves (say you buy from zerodha and someone sells from kotak). Now this guy selling from kotak has shares in his depositary account.

Your broker will send report of transaction done by you to exchange, exchange asks sellers broker kotak to arrange stocks, kotak asks cdsl to give shares to them by showing sellers poa, kotak gets stocks from cdsl transfered to your depositary account.

Now when you get shares, similar exercise will be done on selling and zerodha has to show poa to cdsl to release shares and send to buyer. But your poa was not there so far right?

In such case you sell and zerodha doesn’t have poa, how will they provide shares to buyer’s broker? Thus your selling will be treated as short selling and you’ll be fined, have to pay price of shares sold and penalty. To remove this, zerodha or for that matter any broker doesn’t allow to sell without poa. Power of attorney is legal document which says a broker can take out shares from your depositary account and send to buyer’s depositary account.

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Luckily, my broker allows to do my own settlements without involving in between. That is called easiest facility by cdsl (or speed e by nsdl), where I’m real owner of my demat holdings and have not given anyone power to move shares with or without my will. Getting easiest account is not easy and sadly no brokers allow it until someone has enough knowledge of settlement and links with broker. Though in coming days such digitally involved settlements will take over age old power of attorney. Digital transfer and settlement makes pay-in real quick of both stocks and money. I get stock next day I buy and money next day I sell because I give stocks to party same evening I sell them without interference of broker and poa while others wait for t+2 days for everything who use poa. If someone can find such broker, move to easiest or speed e (psu banks provide them but brokerage is too much in compare to discount brokers).

Missing