Power of Attorney (Special) for Company Incorporation
Anusheel Tandon
(Querist) 29 August 2008
This query is : Resolved
Hi
I am in the process of getting a new Pvt Ltd company registered. In the process, my agent has asked me to sign a POA with the purpose that he may make necessary changes to MOA and AOA during the registration process and according to him this POA will expire on the day I receive letter of Incorporation.. I am okay with that but the wordings of the POA are such that it look like an open ended document without any age limit set for it (as if it can be exercised even after we receive letter of Inc)... Pls let me know if I should sign it?... Can it cause problems later?
Wording of POA
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Ref: SRN
SPECIAL POWER OF ATTORNEY
We, the undersigned promoters of ‘XXX’, a company under incorporation do hereby authorise Mr. YYY, Company Secretary ,to carry out necessary changes, amendments, corrections and substitution in the Memorandum and Articles of Association and other documents submitted at the time of incorporation of the company.
All acts, deeds and things lawfully done by the attorney shall be binding on us, as if the same were done by us.
In witness whereof we have put our signatures hereunder on
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Thanks
Jaydeep Kurup
(Expert) 29 August 2008
This is perfectly fine.
This is a normal routine procedure followed during incorporation of a company.
Murali Krishna
(Expert) 30 August 2008
Mr Tandon, you shall not have any apprehensions with regard to the time limit of the Special Power of Attorney because the use of the words "at the time of incorporation of the company". This restricts the use of the SPA once the registration is over.
