Reduction of surety amount: irrevocable general power of attorney accepted as documentary proof to claim reduced registration security. The circular permits reduction of registration security where a dealer furnishes specified proofs of ownership or identity; it further authorises consideration of an irrevocable General Power of Attorney, when duly registered and supported by documents such as agreement to sell, will, or receipt, as valid documentary proof for claiming the reduced security under the registration rule.
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Provisions expressly mentioned in the judgment/order text.
Reduction of surety amount: irrevocable general power of attorney accepted as documentary proof to claim reduced registration security.
The circular permits reduction of registration security where a dealer furnishes specified proofs of ownership or identity; it further authorises consideration of an irrevocable General Power of Attorney, when duly registered and supported by documents such as agreement to sell, will, or receipt, as valid documentary proof for claiming the reduced security under the registration rule.
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