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Power of Attorney

This query is : Resolved 
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(Querist)
02 October 2007 Respected Expers,

Can Power of Attorney holder open or close bank account?

Can power of attorney holder open or close trading account?

CS Jatin Vora
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Shashi Mohan Jha

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Shashi Mohan Jha (Expert)
02 October 2007 Yes..Depends on power delegated.
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KAAPIL

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KAAPIL (Expert)
01 November 2007 There is revocable poa and irrevocable poa. Then there are clauses in poa. In case of irrevocable poa you delegate authoority and cannot withdraw. In revocable poa you can delegate and withdraw. Thus poa if given for bank account then the poa holder is the substitute and can do anything unless his powers are restricted.
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KAAPIL

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KAAPIL (Expert)
02 November 2007 POA should be registered.
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Ravikumar.G

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Ravikumar.G (Expert)
08 November 2007 The format of all PoA are available in our files portal. Kindly down load it.
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KAAPIL

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KAAPIL (Expert)
11 November 2007 Thanks.
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