Power of attorney - revocation
Manoj
(Querist) 02 June 2012
This query is : Resolved
"A" executed power of attorney in favour of "B" authorising him to do several acts and deeds one of them was to sale the land belonging to "A" and authorising "B" to recover the debt due to B from the sale consideration.
My question is :
1) Whether this Power of attorney can be revoked or not.
2) Whether the above POA can be revoked if there is an express condition that it can be revoked.
3) Whether paper publication is required to be given in all case of revocation of power of attorney. Whether paper publication is compulsory under any legislation in case of revocation of poa.
4)Whether any legal notice is required to be given to attorney holder or agent in respect of cancellation of poa.
4) Are there any cases that are pertaining to revocation of poa, that can be referred.
ajay sethi
(Expert) 02 June 2012
it can be revoked .it has to be cancelled at registarar office where it ws registered
you have to issue notice that power of attorney has been cancelled to the holder . advisable to give ublic notice of cancellation of power of attorney ,
Devajyoti Barman
(Expert) 02 June 2012
This is a agency coupled with interest.
This type of POA can not be revoked at the sweet will of the principal until the interest of the agent/constituted attorney is satisfied.
Adv.R.P.Chugh
(Expert) 02 June 2012
I endorse Ld.Burman Ji it is indeed an agency coupled with interest as per S.202 of the Indian Contract Act and hence irrevocable, this is for the reason that the agent has a pre-existing interest in the form of debt already given - if this agency is allowed to be revoked it amounts to fraud and breach of trust.
kuldeep kumar
(Expert) 03 June 2012
POA ONCE MADE SHOULD BE CARRIED OUT FOR THE TIME INTEREST IS SUBSISTING IN DARK CONTRACT WITH A SUBMISSION WHERE SUBJECT MATTER OF POA IS ABSOLUTELY TRANSFERRED.THE WAY IT IS MADE THE WAY IT SHUD BE CANCELLED..BE THAT OF ANY TYPE POA....
SD & SEALED
V R SHROFF
(Expert) 03 June 2012
Issue Notice revoking POA. Attorney may Object if he incurred losses or expenses , or created third party right, and executor have to ratify the same. Also need News Paper Publication, and cancellation at registrar office.
R.K Nanda
(Expert) 03 June 2012
Agree with experts.
Manoj
(Querist) 05 June 2012
Good Morning and thanks to all experts
adv. rajeev ( rajoo )
(Expert) 02 June 2012
