Ambadas-Unde (Service) 24 May 2011
A Public Trust has executed development deed and irrevocable POA in favour of a builder.
Builder fails to meet one of the consideration. Almos 6 years have passed after Development Deed and POA.
Can public trust cancel the irrevocable POA and what is the procedure ?
Hirdayanath M Kamble (Service) 24 May 2011
Time will be essence in this case,failure of consideration is to be noted if it is anything incidental to the main consideration as stipulated, the trust can call for an meeting with the members and pass a motion to the effect that the Irrevocable stands cancelled, and intimation to tbe given to the charity commissioner with the record in writing of reasons as to time gap and who it defeats the very purpose of the development plans.
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