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What is Revocation of Power of Attorney? 

A Power of Attorney is a legally binding written document signed by the party who provides power to the other party to act on his behalf. The person who grants these powers to another is known as Principle and the person to whom this authority, powers and rights are granted is known as Agent. Revocation of Power of Attorney means to cancel or to take back all the rights, authority or power granted to the Agent previously. There are various circumstances that lead to revocation of POA such as Agent becoming unsound, or declared as insolvent by the competent court. It is typically a document related to the cancellation or revocation of powers and authority.

Why is it Important? 

It is important because it's a legal binding document, as it is governed by various laws in India such as the Indian Partnership Act, 1932, The Power of Attorney Act, 1882, The Registration Act 1908 and The Indian Stamp Act 1899. Revocation of Power of Attorney becomes important in cases where either party becomes insolvent, unsound, renounces its rights or the purpose of the execution of POA is completed.

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