Mis using poa

Querist : Anonymous (Querist) 05 December 2011 This query is : Resolved
we gave POA of agri land property worth Rs.60,00000.00 to one of our partner for apply loan from any bank but our partner
sold out the above said property to private financier and only Rs.6,00000.00 only credited in our company account in this situation wat can we do? pls advice us to take further steps legally

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Sailesh Kumar Shah (Expert) 05 December 2011
Check POA,it is allow to sale of land?
is poa registered?

file civil suit for cancellation of sale deed.

Lodge criminal complain for breach of trust.

Rajeev Kumar (Expert) 05 December 2011
Agree with expert

Shonee Kapoor (Expert) 06 December 2011
Agreed with Ld. Mr. Shah.

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com

V R SHROFF (Expert) 06 December 2011
Sale deed need sign of all partners.
It is breach of trust,move cr process. You can file civil suit for cancellation of Sale Deed, get injunction order,
If POA was for bank Loan only, Ur Partner cannot sell the property.

Devajyoti Barman (Expert) 06 December 2011
Yes agreed...

Arun Kumar Bhagat (Expert) 23 January 2012
I too agree.

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