• Giving power of attorney to person not included in partnership firm

Hi,
Me and my friend have a partnership firm in Maharashtra and Business operations are also done from the same. But my Partner is planning to go out of India for some months and I have to keep travelling extensively. Can we nominate a person who is not included in the partnership deed to take care of business operations in terms of banking as signing authority.
If yes then what will the procedure to do the same.
Asked 7 years ago in Business Law

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9 Answers

Hello,

No only the person authorized in the partnership deed can be made the signatory. If there is a provision of making some third party as signatory then you may go ahead with the same, otherwise supplementary deed has to be made.

Regards

Anilesh Tewari
Advocate, New Delhi
18103 Answers
377 Consultations

Yes you can give same to any of your employee or third person for same a POA and authorization letter has to be made. The POA need to be signed by both partners and the person acting as agent.

And further a authorization letter on the company letter head along POA signed by both can be given.

Shubham Jhajharia
Advocate, Ahmedabad
25513 Answers
179 Consultations

Yes, this can be done provided your partnership deed/agreement approves of this.

You need to pass a resolution and change the signing authority with Bank and give the same to a non-partner.

Vibhanshu Srivastava
Advocate, Lucknow
9763 Answers
323 Consultations

By the resolution between both the partners you can authorise any person to operate the business in absence of you he can be your friend or any employees but you will be binding by his work and you cannot put any blame on him as he is working and your power of attorney as your agent during this period you can revoke the power of attorney as soon as you return to the normal operation

Vimlesh Prasad Mishra
Advocate, Lucknow
6851 Answers
23 Consultations

specific power of attorney should be executed by firm in favour of its manger to operate firm bank accounts

Ajay Sethi
Advocate, Mumbai
99783 Answers
8145 Consultations

Dear Sir,

It can be done by executing special power of attorney and also passing a resolution by the members of the partnership firm. Such person is entitled to the present your partnership firm legally and sign the documents legally.

Netravathi Kalaskar
Advocate, Bengaluru
4951 Answers
27 Consultations

if you want some person to act on behalf of partners only as signing authority for banking purposes, then it depends on your bank, what is requires

whether it requires a special power of attorney by the partners in favour of their trusted person or whether the bank would need a simple resolution on the letterhead of the firm

so you must first ask your bank and then have the document prepared accordingly

Yusuf Rampurawala
Advocate, Mumbai
7899 Answers
79 Consultations

You can give someone the legal authority to act for you with a document called a Power of Attorney. If you give a Power of Attorney, you are called the principal and the person you give it to is called the agent or the attorney-in-fact.

A power of attorney can be executed by any person who is competent to enter into a contract. A PoA must be signed and notarized by a certified notary advocate. You will need to show your ID to the notary so that he can certify the document.

Mohammed Mujeeb
Advocate, Hyderabad
19325 Answers
32 Consultations

You have to make provisions in the article of association for this arrangement.

He can be appointed as manager or any top post in the firm and he may be authorised by a resolution or in a board of directors meeting to act as authorised signatory to transact with the bank transactions including cheque signing etc.

The bank should be notified besides attaching a copy of this authorisation letter.

T Kalaiselvan
Advocate, Vellore
89985 Answers
2492 Consultations

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