PoA
MAHESH JOTIBA KOCHERI
(Querist) 26 March 2010
This query is : Resolved
dear sir,
A is a sleeping partner/director wants to give PoA to B his wife. the firm is pvt ltd.. kindly let me know the format for the same.
thanks in advance
regds
mahesh
Parveen Kr. Aggarwal
(Expert) 26 March 2010
Mr. Mahesh,
A firm and a private limited company are two different kinds of business entities. In case of a partnership firm, it has not separate legal entity whereas a private limited company has a separate legal entity. In case of a firm, a partner may give Power of Attorney with the consent of the other partners but in case of a private limited company a power of attorney cannot be granted unless approved by Board of Directors vide resolution.
Kumar Thadhani
(Expert) 28 March 2010
How can firm is pvt.ltd. Please clarify ?
Guest
(Expert) 28 March 2010
You have not mentioned for what purpose A intends to give PoA to B? There are several formats depending upon your purpose, we can suggest. Further clearly clarify what is your type of entity.
MAHESH JOTIBA KOCHERI
(Querist) 29 March 2010
Yes, i am sorry. It is a pvt ltd co. The intention of A to give PoA is as he is not reisiding in INDIA n the day to day matters could be handled by B. A is a Director in the pvt ltd co.
thanks n rgds
mahesh
Parveen Kr. Aggarwal
(Expert) 31 March 2010
For grant of power of attorney by A in favour of B, a resolution will have to be passed in the meeting of the Board of Directors authorising A to give such a power of attorney in favour of B.
Vineet
(Expert) 01 April 2010
I agree with Mr Pravin. The director alone cannot grant anybody power of attorney. But the Board can authorise an individual to perform certain acts including signing of instruments, deeds, agreements, cheques etc on behalf of the company.
