The regulator said that systems are in place where broker using POA transfers client securities as margin into his client's collateral account and then place these securities with clearing corporation (CC) by way of transfer or creation of pledge towards margin.
With a view to boost the real estate sector, the Punjab Cabinet on Tuesday decided to abolish the stamp duty of two per cent levied on immovable property while awarding the power of attorney.
The realty market in India, has always seen considerable interest from the Indian diaspora, as an investment avenue.
The order "does not preclude Sebi from taking any further action, as deemed fit, in accordance with law against them noticee viz, TSR Darashaw Ltd," the regulator said.
A bill to amend the century old Registration Act to help check the loss of revenue to the state seeks to make registration of lease deeds of immovable properties and Power of Attorney compulsory irrespective of their term.
First and foremost, as an investor, you must ensure that the broker has the right credentials. Browse through the SEBI/ stock exchange websites, scan for pending investor complaints against a broker and also seek a second opinion from those who know/ have dealt with the broker.