Direct Tax
Consulting
ESG Advisory
Indirect Tax
Growth Advisory
Internal Audit
BFSI Audit
Industry Audit
Valuation
RBI Services
SEBI Services
IRDA Registration
AML Advisory
IBC Services
Recovery of Shares
NBFC Compliance
IRDA Compliance
Finance & Accounts
Payroll Compliance Services
HR Outsourcing
LPO
Fractional CFO
General Legal
Corporate Law
Debt Recovery
Select Your Location
Power of Attorney is a legally binding document which gives another person, the authority to act on behalf of another in matters of a business transaction, legal affairs[1] or even a private matter as described in the POA. The person is authorized does not require any specific qualifications or designation. Each POA may differ in the manner of the level of control and authority granted and also the purpose.
It should be noted that the Power of Attorney does not take away the right of the principal to act on his own behalf. In case of disagreement with the agent, the decision of principal hold good and there is always remains an option of revocation of the Power of Attorney.
These can broadly be categorized as:
A Power of Attorney may be revoked or canceled at any stage with a legal document showing such an intention. A notice may be given to the agent regarding the same. If the Power of Attorney has been registered the Revocation Deed shall also be required to be registered. It is always in good practice to supply a public notice to the parties dealing who were dealing with the agent while the power of attorney was in force.
The power of attorney if executed with some consideration mentioned, then it must be settled in whole before the revocation/ cancellation.
This document shall mention
The agent after being served with a notice of cancellation of the power of attorney will have no authority to act on behalf of the Principal and the principal shall not be bound by the actions of the Agent. In spite of the notice, if the Agent continues to act on behalf of Principal, then can be subjected to appropriate legal notice.
The startup ecosystem in India is very energetic and dynamic. Whether it's disruptive technolog...
The importance of NBFCs, or Non-Banking Financial Companies, has increased in the Indian financ...
With the growing popularity of the investment instrument, Alternative Investment Funds (AIFs) h...
The Securities and Exchange Board of India (SEBI) has recently proposed a review of the categor...
The regulatory organizations in the recent years have focused more on efficiency, investor prot...
Are you human?: 4 + 6 =
Easy Payment Options Available No Spam. No Sharing. 100% Confidentiality
FRANCHISEE: Franchisee Agreement is a legal contract between two or more legally competent parties wherein a well-e...
15 Jun, 2019
Stamp Duty on Memorandum of Association The Ministry of Corporate Affairs is the department concerned with supervis...
27 Jun, 2019