Cancellation of development agreement

vinayak limaye (Querist) 09 January 2015 This query is : Resolved
One of my client's friend gave POA to her brother in Pune from abroad for entering into development agreement in respect of her property. My client has vested interest in property; i.e. he has prospective buyers from abroad, also he has introduced a builder & is ready to provide finance for development work. The builder had promised my client to make him party to the development agreement upon mutually agreed terms. Later on, while my client was abroad, the builder got executed Irrevocable GPA & development agreement in his name alone from the brother of property owner, who possesses POA for the purpose. Builder has mislead this person, being very old & not fully conversant with pros & cons. Builder verbally told to give 40% share, while in the document he put 30% that too for only 50% of total construction. Builder also dodged my client & intentionally excluded him from the deal. Builder is lacking finance & now again wants to enter into separate deal with my client for availing finance. However, my client wishes the entire deal to be revoked. Builder is helpless on finance & didn't think that my client will be so serious about the deal.
The questions are:
If the original POA given by landowner lady is NOT made Irrevocable, can it be revoked by her?
Are the Development Agreement & Irrevocable GPA executed on the strength of POA which itself is not Irrevocable; are valid legal transactions?
If the landlady will now revoke the POA, can she do so & if yes, what will be the status of Development Agreement & Irrevocable GPA?
Can POA holder willingly terminate the deal & issue public notice of termination?
If yes, such notice is to be issued by him in his personal capacity or through lawyer?
Can he display a notice board on the property notifying termination of agreement?
If the builder will not respond to notice, will notification of termination to sub-registrar construe the termination?
What is the remedy available to builder to avoid termination & keep the agreement in force?

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