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TMI BlogExecution of ‘Demat Debit and Pledge Instruction’ (DDPI) for transfer of securities towards deliveries / settlement obligations and pledging / re-pledging of securitiesX X X X Extracts X X X X X X X X Extracts X X X X ..... oker / Stock Broker and Depository Participant ( POA Guidelines, 2010 ). Certain clarifications were issued vide circular no. CIR/MRD/DMS/28/2010 dated August 31, 2010 . Vide SEBI circular no. SEBI/HO/MIRSD/DOP/CIR/P/2020/158 dated August 27, 2020 ( PoA Guidelines, 2020 ), it was inter-alia reiterated that: 1.1. PoA is optional and should not be insisted upon by the stock broker / stock broker depository participant for opening of the client account. 1.2. PoA executed in favour of stock broker / stock broker depository participant by the client shall be utilized 1.2.1. For transfer of securities held in the beneficial owner account of the client towards Stock Exchange related deliveries / settlement obligations arising out o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... electronic Delivery Instruction Slip (eDIS) themselves. Hence, with the implementation of this circular, PoA shall no longer be executed for the conditions specified in paragraph 1.2.1 and 1.2.2. 5. The DDPI shall be indexed as part of the Voluntary Documents in Annexure-1 of SEBI circular no. CIR/MIRSD/16/2011 dated August 22, 2011 and shall be executed only if the client provides his/her explicit consent for the same, including internet based trading. The DDPI shall also be adequately stamped. The DDPI can be digitally signed by the clients. 6. The existing PoAs shall continue to remain valid till the time client revokes the same. Thus, the stock broker/stock broker and depository participant shall not directly / indirectly compe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... trading member pool account. The DDPI provided by the client shall be registered in the demat account of the client by TM /CM. Stock Exchanges and Depositories shall ensure that stock broker/stock broker and depository participant providing DDPI facility, has enabled its clients to revoke / cancel the DDPI provided by them. 9. For the clients who issue the DDPI to stock broker/stock broker and depository participant, the following provisions of the SEBI circulars issued with respect to PoA shall stand replaced with DDPI with effect from July 01, 2022: 9.1. Paragraphs 4.2.1 and 4.2.2 of SEBI circular no. SEBI/HO/MIRSD/DOP/CIR/P/2020/158 dated August 27, 2020 , and 9.2. Paragraphs 1(i) and 1(ii) of Enclosure to the SEBI circular no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the Depositories Act, 1996 , to protect the interests of investors in securities and to promote the development of and to regulate the securities markets. Yours faithfully Narendra Rawat General Manager Tel. No: 022 26449383 [email protected] Annexure-A Demat Debit and Pledge Instruction S.No. Purpose Signature of Client * 1. Transfer of securities held in the beneficial owner accounts of the client towards Stock Exchange related deliveries / settlement obligations arising out of trades executed by clients on the Stock Exchange through the same stock broker 2. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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