In a company a General Power of Attorney (GPA) for signing of court papers, tenders and other documents on behalf of the Company is given to specific Officers on request by the Executive Director of the Company who in turns gets it from one of the Board Directors of the Company to whom is given by the Board of Directors after a resolution is passed in that regard. Now my queries are :-
1. Does the GPA issued to the Officer remains valid on retirement of the Executive Director or the Director of the Company ? Further, there is no such clause in the GPA with regard to revocation of the General Power of Attorney.
2. If yes, does it mean that every time the GPA holder retires, the GPA dies a natural death and the Officer has to get a new one issued every time. ? or,
3. Will the concept of Durable Power of Attorney apply ?
Please enlighten.
