Power of Attorney means a person (the principal) appoints another person (authorised representative) on behalf of him/her, to perform certain functions such as signing all the documents, registrations, transfer of property, holding bank accounts, etc. to take care of all the transactions in the absence of the principal due to any reason. All the powers and rights will be transferred to authorized person on behalf of the principal who granted the power.
There are two types of power of attorney
1) General Power of Attorney: It means power includes on all aspects generally;
2) Special Power of Attorney: It means the power is limited to specific purpose or activities basing on the requirements. The principal can revoke the power of attorney at any time or it is terminated when the principal dies/ become incompetent.