InvestorQ : Instead of DIS, can I authorize my DP to debit with a letter?
Tisha Malhotra made post

Instead of DIS, can I authorize my DP to debit with a letter?

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Abhi Yadav answered.
3 years ago
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No, that is not possible. You must only use a DIS with the DP id and your client id stamped on the DIS. Also, ensure that your DIS does have a unique serial number pre-printed on it. Plain letters for a debt of demat account are not permitted as it is not safe. In fact, you need to take some basic precautions while issuing DIS to your broker.
Firstly, ensure and insist with DP to issue DIS book. Secondly, ensure the client ID and serial numbers of the DIS are pre-printed on the slips. Thirdly, if the account is a joint account, all the joint holders have to sign the instruction slips. Instruction cannot be executed if all joint holders have not signed. Fourthly, avoid using loose slips. Only accept booklets from your DP for your DIS. Fifthly, do not leave signed blank DIS with anyone viz., broker / sub-broker, DPS or any other person/entity.
Also, make it a point to keep the DIS book under lock and key when not in use. It is a confidential document. Sixthly, If only one entry is made in the DIS book, strikeout remaining space to prevent misuse by anyone. Last, but not the least, personally fill in target account-id and all details in the DIS. Once all this is done, double check some critical items in the DIS like a number of shares, ISIN code and check that the number of shares in figures and words are fully matching.
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