Amicable Corporation Ltd. incorporated under the Companies Act, 2013 purchased an independent house comprising two floors in Gurgaon in the State of Haryana for a sum of ₹3.5 crore for providing company accommodation to

CS Professional · Drafting, Appearances and Pleadings · PYQS · December 2021
Amicable Corporation Ltd. incorporated under the Companies Act, 2013 purchased an independent house comprising two floors in Gurgaon in the State of Haryana for a sum of ₹3.5 crore for providing company accommodation to Dinesh, Company Secretary on the first floor and it was decided that the company shall have its guest house at ground floor. For facilitating its registration, Mrs. Rajwati, the Chairman -cum-Managing Director Executed the following special power of attorney: "By this power of attorney, I, Rajwati Chairman, Amicable Corporation Ltd., do hereby appoint authorize Dinesh to be my agent and authority for the purposes of Executing registration of the property purchased by the company from Antarctic Builders Ltd. On this 15th day of September, 2018. For and on behalf of Amicable Corporation Ltd. Sd/- Chairman On presentation of this document, the Registrar refused to complete the registration Procedure stating that the power of attorney is void. In the light of the above answer the following: (iii) Property registration changes are 8% for a man and 6% for a woman. Will you advise that the power of attorney be executed in favour of Mrs. Rajwati to derive this benefit?

Answer & Explanation:

(iii) Chairperson being a female will not make any difference as the properly is to be registered in the name of the Company. If the property would have to registered in the personal capacity of Mrs. Rajwati the benefit could have been in the terms of savings in Stamp Duty. As far as issue of power of attorney is concerned there is no distinction between man and woman.

Topics: Company Law

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