Power of Attorney (POA) means legal authorization that gives a designated person the power to act for someone else. POA gives the agent the authority to act on behalf of the principal. The agent may be given broad authority to make decisions about the principal's property, finances, investments, or medical care.
The governing law in this matter is the Power of Attorney Act, along with Section 2(21) of the Indian Stamp Act, 1899 as per which Power of Attorney is inclusive of any instrument sanctioning a definite person for acting for & in the name of the person executing it. It is applicable to the whole of India except the State of Jammu and Kashmir.
Read More