Power of attorney
sachin
(Querist) 07 April 2012
This query is : Resolved
Dear Friends,
A sick businessman from Mumbai, India, wants to give a General Power of Attorney (GPA) to his blood brother to manage his personal affairs, movable and immovable property across india and his business affairs.
The said businessman is a proprietor of a propritory concern and a partner in a prtnership firm.
Vide the aforesaid GPA can the sick businessman delegate the powers of managing the proprietory concern and represent him as a partner in the partnership firm where he is a partner, to his blood brother.
Regards,
Sachin
ajay sethi
(Expert) 07 April 2012
the busines man can give power of attorneyto his brother to manage the business , his immoveable properties but power of attorney should be registered
SAINATH DEVALLA
(Expert) 08 April 2012
Dear Sachin,
A registered special power of attorney can be given to his brother manage,execute,promote,administer,to buy and sell and raise money for the purpose of business,to recover existing dues or mortgage for the purpose of business etc.
Sailesh Kumar Shah
(Expert) 08 April 2012
Sick businessman should be mentally healthy to execute registered power of attorney to manage his personal affairs, movable and immovable property across india and his business affairs
V R SHROFF
(Expert) 08 April 2012
Agreed with experts
One doubt.Partnership is Agency, and other partner can always sign for Firm, so why additional POA for Partnership Firm?? His Partner can carry on his job, binding him w/o POA also.
M V Gupta
(Expert) 08 April 2012
If the business man is so unwell and cannot manage his business affairs in the Firm, better course appears to be to come out of the Firm and settle his accounts with the Firm. Giving POA to deal with other partners and the firms business while may be legal, may not be advisable and may also not acceptable to other partners.
