Since we are regulated by SEBI to accept minimum Rs 25 lakh, we use WAPL account to receive and verify the amount. When transfers are made in tranches, the money is held in this account till Rs 25 Lakh or more is completed. The funds are then transferred to a pooled HDFC account. The power of attorney for this pooled account is held by our custodian ICICI (SEBI registered).
The buying and selling of stocks is done in bulk for all our clients. As per the allocations shared by us, ICICI allocates stocks to individual client Demat accounts.
On Liquidation, your stocks are sold and the money is credited in the pooled account. Later, we present your request for withdrawal to our custodian to release the funds in WAPL account. The funds are credited to your account (as per cancelled cheque or cheque submitted at the time of funding the account) in 10 working days from the withdrawal request date.