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Siddarth Barbaruah (Manager)     23 April 2015

General power of attorney

In a company a General Power of Attorney (GPA) for signing of court papers, tenders and other documents on behalf of the Company is given to specific Officers on request by the Executive Director of the Company who in turns gets it from the Director of the whom Company to whom is given by the Board of Directors after a resolution is passed in that regard.  Now my queries are :-

1. Does the GPA issued to the Officer remains valid on retirement of the Executive Director or the Director of the Company ? Further, there is no such clause in the GPA with regard to revocation of the Power of Attorney.

2. If yes, does it mean that everytime the GPA holder retires, the GPA dies a natural death and the Officer has to get a new one issued everytime. ? 

Please enlighten.



Learning

 2 Replies

bsrao   24 April 2015

GPA issued as per the policy of the Company would survive retirement of the Company Officer who executed it. The GPA is tantamount to have been issued by the Company and as long as the Company exists, the GPA holders can exercise authority granted. The GPA Holder's retirement or termination will put an end to the GPA. This would be the same if the Company becomes defunct/dead.

Hope this helps.

B S Rao

Siddarth Barbaruah (Manager)     24 April 2015

Thank you Sir.


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