Power of attorney to operate safe deposit locker box
Haidar Rashed
(Querist) 06 December 2023
This query is : Resolved
Dear Sir
I and my wife, both OCI holders, currently residing in Canada, have a joint locker box at Axis Bank, Byculla Branch which was opened in 2017.
As the nearest opportunity for our forthcoming visit to India is end 2025 early 2026, we would like to give a power of attorney to my sister in law who is in Mumbai to operate the locker.
Question:
1- Is this possible through a Power of Attorney?
2- If yes, can you provide me the fees for drafting the Power of Attorney?
3- What documentation need to be provided for the Power of Attorney?
4- Will an attestation by Notary Public at our end suffice?
5- Would any attestations be required in Mumbai; if Yes from which entity?
6- What attestations will be required for the Power of Attorney to become fully operational?
7- Can the bank decline the Power of Attorney and refuse to allow the person we designate to operate the locker?
Would appreciate a response by email.
Best regards
Haidar Rashed
haidarrashed110@gmail.com
Sudhir Kumar, Advocate
(Expert) 06 December 2023
querry is on procedure and not on law.
did you speak to the bank?
Haidar Rashed
(Querist) 06 December 2023
No I have not spoken to the bank. I first want to know if the Banking regulations in India permit P/A for operating Safe Deposits
T. Kalaiselvan, Advocate
(Expert) 06 December 2023
Power of Attorney holder can operate the locker but cannot surrender it. f you would like to add a Power of Attorney (POA) holder to your Locker, all the licensee/s of your Locker must duly sign and submit a Request Letter in the bank format. be authorised to access on behalf of the licensee.
2. You are raising this question in general in this public forum, you can contact the chosen advocate of this forum or talk to an advocate outside who can draft the same on his/her terms.
3. The details of the principal/s
4. Hopefully so.
5. The POA deed once attested by a Notary public/an official of the Indian consulate of the country of your current residence, it need not be attested once again in India, however if necessary you can get it adjudicated by a sub registrar in India.
6. Read the above answer.
7. Legally they cannot if the POA deed is proper and legally valid in all aspects.
kavksatyanarayana
(Expert) 06 December 2023
If you would like to add a Power of Attorney (POA) holder to your Locker, all the licensee/s of your Locker must duly sign and submit a Request Letter in the bank format. be authorised to access on behalf of the licensee. The POA cannot request locker allotment on behalf of the licensee.
P. Venu
(Expert) 07 December 2023
The SOP governing operation of locations of each bank could be accessed on the public domain. You can contact the concerned Bank as well.
