Legal Question in Banking Law in Pakistan
In a private Limited Company having four directors, Two of the Directors have executed power of attorney in favor of rest of directors with instruction to their bank that they can run their company account in their absense.
Now directors have dispute and two directors who were not authorized to run their bank account intend to cease the authority of authorized Directors. What remedy do the Unauthorized directors have in order to cease the powers of authorized signature.
Regards,
Usman
Pakistan
Asked on 6/05/14, 3:56 am
1 Answer from Attorneys
Adnan Bashir
A B Choudry Law Firm
just prepare an deed to revoke the power you confer through POA, and submit it before the concerned bank.
0333-5492377
Answered on 6/05/14, 5:43 am
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