Upstox cannot withdraw securities from the client's Demat account till the time the ‘Sell’ transaction is not authorized on CDSL using TPIN.
Once a client sells any stock from Demat holdings he needs to authorize the transaction on the CDSL portal.
In most cases, Upstox asks users for TPIN authorization. However there could be a few instances when CDSL sends us an ‘Authorization failure’ notification. So, for such instances Upstox sends a ‘post-trade’ authorization request after market hours.
Timelines to authorize the requests:
- For stocks unavailable under Holdings (stock bought yesterday and sold today) - 7.00 PM today
- For stocks available under holdings (T+2) - 12.00 PM of next settlement day
- For stocks available under holdings (T+1) - 08.00 PM today