Power of attorney

Querist : Anonymous (Querist) 28 January 2019 This query is : Resolved
My question is a bank required to enter into a service level agreement with the other and that other party requires copy of power of attorney for signing this agreement. Now whaether special power of attorney requires or general power of attonrey required.

and stamp duty rate for such power of attorney?

its urgent.

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kavksatyanarayana (Expert) 28 January 2019
Before posting your query you have to disclose your identity for more replies. However, when a Bank requires service level agreement, then for what purpose General/Spl.power of Attorney required. In which State? The Stamp duties vary from one State to other State. Generally for sale/sale agreements/develop agreements coupled with GPA requires much stamp duty. But for normal General/Special Power of Attorney(for not transfer of property), the maximum Stamp duty is Rs.100/-

Querist : Anonymous (Querist) 29 January 2019
ITS just a service level agreement to be entered into by official on behalf of the bank and city is mumbai.
and there are no transaction of property or sale.

this agreement is with npci. and i wnat to know that in this regard wheather i have to draft GPOA/ SPA?

kavksatyanarayana (Expert) 29 January 2019
Only for agreement with npci, you can go to draft SPA.

Querist : Anonymous (Querist) 29 January 2019
ok thanks sir

and this is tri-partite agreement. if the agreement is executed in gujarat stamp duty is 100/- and if in mumbai - Rs. 500/-. Is it correct?

kavksatyanarayana (Expert) 29 January 2019
Stamp duty vary from state to state. so check in your state.

Querist : Anonymous (Querist) 29 January 2019
ok.
sir
thank you sir

SHIRISH PAWAR, 7738990900 (Expert) 29 January 2019
In Mumbai you have to use Rs. 500/- stamp paper for special power of attorney.

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