Power of Attorney

This query is : Resolved

abvvora (Querist)
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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

Shashi Mohan Jha

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

KAAPIL

KAAPIL (Expert)
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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.

KAAPIL

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

Ravikumar.G

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

KAAPIL

KAAPIL (Expert)
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11 November 2007 Thanks.

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