Legal Question in Banking Law in India

Q1. Can the proprietor and the POA operate a current account simulteneously?

Q2. Can debit card be issued to the propietor if POA is accepted?


Asked on 6/04/16, 10:38 am

2 Answers from Attorneys
Fca Prashant Chavan Expert Edge LLP

04.06.2016

Dear Sir / Madam,

No, the proprietor and the Power of Attorney (POA) holder cannot operate a current account jointly.

No.

Regards,

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Answered on 6/04/16, 10:40 am

1) No. Proprietor means sole proprietor.

2) No

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Answered on 6/04/16, 8:06 pm


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