Authorised Signitory/power Of Attorney - PDF Download

Dear friends,
What is the difference between the two? Please provide detailed procedure and formalities for giving Power of attorney.
Is the power of attorney applicable for all financial deals?
Regards,
Rajendra.
13th July 2011 From India, Pune

Authorized signatory are allowed to sign on behalf of the directors where direct financial transaction doesn't take place for example sign of Cheque. but can be used for getting trade license, but in case of power of attorney the person gets absolute authority to deal with any thing
14th July 2011 From India, Calcutta

Hai friend, power of attorney holder will have the full power to exercise as the real person do the acts. No can question his acts of holder.
21st February 2014 From India, Visakhapatnam

Dear Rajendrajdhv,
There are broadly two type of Power Attorneys 1) General Power of Attorney 2) Specific Power of Attorney. General Power of Attorney is generally issued in favour of those persons to carry day to day work. Specific Power of Attorney is specifically issued in favour of a person to carry/execute specific/particular type of work only and after its completion the Power of Attorney automatically becomes null n void. Stamping of Power of Attorney is mandatory. The applicable Stamp Duty differs from State to State in India e.g. it is of Rs.100/- in Gujarat State and i think it is Rs.200/- in Maharashtra State. Further the Power of Attorney should exhibit the photographs of both i.e. of Issuer and Power of Attorney holder and it should be motorized/registered with Notary Public.
With Regards,
A. Prakash
20th August 2015 From India, Halol

Dear Friend,

Authorised signatory and power of attorney are entirely different.

Authorised signatory : This is an internal procedural adjustment, some one is authorised to carry on the works on paper and to deliver on behalf of the seniors. This is a delegated power. However, authorised signatory and the power is restricted. In Govt. Sector, some officials are recognised for authorised signatory on cheques. The responsibility squarely rest on those who delegate the power.

Power of Attorney : It is an Act, under the Law Commission of India, the power attorney entails the responsibility on those who are delegated with the power on behalf of some one, this is being registed under the Act (respective Acts), A Chartered Accountant is delegated with the power attorney for the cases on behalf of the owners/organisations, Land dealings are come under power attorney who is authorised to sell on behalf of the land owner, etc., such power of attorney need be registered with the authorities on due formalities. You please find an attachment for power of attorney for your reference.
20th August 2015 From India, Arcot

Attached Files (Download Requires Membership)

power of attorney.pdf (1.51 MB, 893 views)