Power of attorney
Manoj
(Querist) 16 May 2012
This query is : Resolved
I have query about PoA
Suppose "A" issue a POA in "B" & "C" for executing Loan agreements and other incidental tasks.
1. Whether "A" can issue POA in favour of two person.
2. If POA is issued in favour of "B" & "C" who is going to execute the documents.
3. Is there any restriction on number of person in favour of whom a POA can be issued.
4.Is there any legislation that states about issue of POA in favour of more than one person.
5. If POA is issued in favour of more than one person then who will execute the documents whether jointly or severally
6. Whether general and specific POA can be issued in favour of two or more person. What bearing does it have in case of execution of loan agreements and other incidental tasks.
ajay sethi
(Expert) 16 May 2012
academic query . state facts of your case
Manoj
(Querist) 17 May 2012
A POA has been executed in favour two person for executing loan agreement on behalf of principal, and other documents relating to availing loan. Nothing in the POA is mentioned that it will be executed jointly or severally and what acts will be done by whom. My query is, is it valid. If not what changes are rquired to be done in the POA.
Nadeem Qureshi
(Expert) 17 May 2012
Dear Manoj
it is depend on the terms and condition of the POA, if not mention then anyone can perform their duty and execution can be jointly or severally.
feel free to call
Deepak Nair
(Expert) 17 May 2012
It would be better to specify in the POA the rights and status of the attorney (whether authorised to execute agreement severally or not)
R.K Nanda
(Expert) 17 May 2012
Academic query.
Deepak Nair
(Expert) 17 May 2012
Academic query?? Is it???
Manoj
(Querist) 18 May 2012
Good morning. Thanks to all experts
Shonee Kapoor
(Expert) 18 May 2012
There is no bar of issuing PoA in more than one person's name, but the rights and liabilities have to be quantified and mentioned in unambiguous terms.
State facts of the case for better replies.
Regards,
Shonee Kapoor
harassed.by.498@gmail.com
Kishor Mehta
(Expert) 18 May 2012
Sir/s,
With due respect to all:
A person can execute a number of POA to various persons for performance of specific acts, provided that:
For any legal validity the POA has to be registered.
Each POA should mention the execution of other POA and the person to whom it relates, and the specific powers and tasks attributed.
Each POA should be clear in all aspects of the powers & tasks attributed to one and all.
Regards,
Kishor Mehta
