Closure of Accounts under POSB Schemes on the basis of general power of attorney – Request for necessary clarification.

Dear Comrades,

Confronting a problem on closure of a T D Account standing at Bhubaneswar GPO on the basis of general power of attorney, we had already requested our Divisional administration for necessary clarification with similar request to our Circle Union and CHQ to take up the case at appropriate level.

Now our CHQ has written to the Directorate for issuing a clarificatory order on the issue .

The copy of our letter written to the SSPOs, Bhubaneswar Division and the copy of the letter written by our CHQ to the Directorate are reproduced for information of all.

 Copy of CHQ letter :

 

Copy of Our Letter:

To

The Senior Superintendent of Post Offices

Bhubaneswar Division

Bhubaneswar – 751 009

No. UN-BN/AIPEU-Gr.-C/ 03 – 02 / 2013,Dated at  Bhubaneswar the 6^th February, 2013

Sub:-   Closure of Accounts under POSB Schemes  on the basis of general power of attorney – Request for necessary clarification.

Sir,

One Sri Pravanjan Tripathy, now residing in Apartment # 308, 7405,  Goreway Dr. Mississauga, Ontario, L4T0A3, Canada had opened a Joint ‘B’ type 1 Year T D  Account  No. 701567 with co-depositor as Sandhya Tripathy in Bhubaneswar GPO on 01.02.2012. Now on maturity, said Sri P Tripathy has  requested for closure of their T D Account on the basis of “General Power of Attorney” appointing one Sri Sarat Kumar Rath, A 302 Aryalaya Apartment, Unit VIII, Bhubaneswar – 751 012. The deed containing the power of attorney has been executed before Prit Pal Singh, Consul (CPV), Consulate General of India, Toronto.

On verification of the “General Power of Attorney”, the following points of doubt have come up:

1.    While Rule – 33 of P O S B Manual, Volume – I specifies withdrawal from S B Account on the general power of attorney subject to fulfillment of conditions prescribed there in, no such provision is available for closure of any  Account  under POSB Schemes on the basis of general power of attorney. The Govt. S B Act, 1873, The POSB General Rules, 1981 and PO Savings Accounts Rules, 1981 are also silent on the issue.

2.    Even for withdrawal, the instructions under Rule – 33 of P O S B Manual, Volume – I are not sufficiently clarified to establish:

a.    If the deed containing “General Power of Attorney” will be signed by both the depositors in case of Joint B Account or else one of the depositors can execute the deed.

b.    If the “General Power of Attorney” executed in a foreign country is acceptable when it is specified under Rule – 33 of P O S B Manual, Volume – I that the deed needs to be stamped under Article 48 of the Stamp Act ( as applicable to each state). If so, how the authenticity of the deed will be established since payment will be made if the power of attorney is found in order.

c.    As per instructions under Rule – 33 ( 4 ) (i)  of P O S B Manual, Volume – I while the recipient  is called the “Constituted Attorney”, the instant “General Power of Attorney” submitted by Sri P Tripathy defines the same as “Attorney Holder”. It is required to be clarified that if the “Constituted Attorney” and “Attorney Holder” are one and same in the eyes of law.

Now the case is pending in Bhubaneswar GPO. The same situation may be expected in any other offices also. As such, under the facts and circumstances, the following points of doubt may kindly be clarified.

a.    If the provision of withdrawal from S B Account on the basis of “General Power of Attorney” available under Rule – 33 of P O S B Manual, Volume – I will be applicable to both withdrawal and closure of any other account under POSB Scheme.

b.    If the deed containing “General Power of Attorney” will be signed by both the depositors in case of Joint B Account or else one of the depositors can execute the deed

c.    If the “General Power of Attorney” executed in a foreign country is acceptable in India.

d.    If the “Constituted Attorney” and “Attorney Holder” are one and same in the eyes of law.

With regards.

Yours faithfully,

( Bruhaspati Samal)

Secretary

Copy to:

1.    The Circle Secretary, AIPEU, Group-C, Odisha Circle, Bhubaneswar GPO-751001.

2.    The General Secretary, AIPEU, Group-C, CHQ, Dada Ghosh Bhawan, New Patel Nagar, New Delhi – 110 008

They are requested to take up the issue in appropriate level to issue a clarificatory order from the Directorate.

( Bruhaspati Samal)

Secretary