I think it's necessary to have a pan card need to buy or sell the bitcoin in Indian exchanger like zebpay and more, but if want to buy or sell at localbitcoin site just verify you account and you can do trade there.
True but rates for unverified accounts vs verified accounts are different. OP's best bet is to sell to someone through the forum or locally. Either way, he will get much better rates than localbitcoins. But if its an emergency thing, then go ahead and use localbitcoins instead.