Suppose "A" issue a POA in "B" & "C" for executing Loan agreements and other incidental tasks.
1. Whether "A" can issue POA in favour of two person. 2. If POA is issued in favour of "B" & "C" who is going to execute the documents. 3. Is there any restriction on number of person in favour of whom a POA can be issued. 4.Is there any legislation that states about issue of POA in favour of more than one person. 5. If POA is issued in favour of more than one person then who will execute the documents whether jointly or severally 6. Whether general and specific POA can be issued in favour of two or more person. What bearing does it have in case of execution of loan agreements and other incidental tasks.
17 May 2012
A POA has been executed in favour two person for executing loan agreement on behalf of principal, and other documents relating to availing loan. Nothing in the POA is mentioned that it will be executed jointly or severally and what acts will be done by whom. My query is, is it valid. If not what changes are rquired to be done in the POA.