Power of attorney
Heaven 2011
(Querist) 01 April 2010
This query is : Resolved
Suppose in a POA, Mr x Mr Y and Mr Z were appointed attorney on behalf of the Company to represent the company before the statutory authorities. Now Mr. X has resigned and another Mr B and Mr C have been appointed. If the Company wants to replace Mr B and C then a fresh POA would require. But would the revocation of the earlier power in favour of Mr. X is mandatory to inform the statutory authority about the said resignation? Or a mere official letter will do. In revocation POA if we write that all the acts done by Mr X on behalf of the Company is revoked or will not have any effect, then would it create any statutory encumbrance? Kindly advise.
Rgds,
Suryanarayana Tangirala
(Expert) 01 April 2010
No statutory Encumbrance will arise they are only representatives of company,cancel the POA by following procedure laid down in contracts act under agencies head.In fact a authorisation letter will be sufficient to represent a company as u have already executed POA and that employee is presently not on the rolls make sure the POA is cancelled by following the procedure.
