Power-Of-Attorney By A Firm Deed Format

Power-Of-Attorney By A Firm

Power-Of-Attorney By A Firm Deed Format

Know all men by these presents that we ……………… all carrying on business at present in co-partnership under the name and style of ………… (a firm duly registered under the Indian Partnership Act being No. ………………) as Exporters in ……………… do hereby nominate, constitute and appoint Sri ………, son of ………… by caste ………… by occupation ………… at present residing at ………… as the Constituted Attorney for and on behalf of our said firm as the same is now or hereafter constituted from time to time to do inter alia the following acts, deeds and things:.

1. To appear for and represent our above firm to all intents and purposes in or outside India in connection with its said business and all affairs ancillary or incidental thereto and to sign jointly and/or severally all contracts and orders and other documents, letters, receipts, papers and writings whatsoever and to conclude all bargains and deals, to accept all estimates, tenders, quotations, etc., to settle all disputes and differences in connection with its said trade or business and affairs ancillary or incidental thereto.

2. To ask for, demand, recover, receive and collect all moneys due and payable to the said firm in connection with its said business from any person or persons, company or association, including any statutory body or authority, Government or semi-Government concern or concerns including insurance, claims, compensation and damages against Railways, Airways, Roadways etc. etc. and to give good valid receipts and discharges therefor.

3. To appear for and represent the firm before all Municipal bodies, Corporation, Improvement Trust, Railways, Airways, Roadways, Travel Agents, Chamber of Commerce and Industry, Controller of Patents, in all Collectorate, Treasury, Revenue offices, Settlement offices, before any Magistrate and in all courts having civil, criminal, original or appellate, revisional or special jurisdiction, including jurisdiction of any High Court, under Art. 226 of the Constitution of India, before any tribunal of arbitration or other tribunal or judicial authority, Wealth Tax, Sales Tax and other authorities and in all other Government or semi-Government offices and departments.

4. To acquire, sell or dispose of goods and stock-in-trade for cash or on credit for the purpose of carrying on business of the firm.

5. To apply for, obtain and renew all licences, permits, etc. as may be necessary or requisite for the purpose of carrying on or developing the trade or business.

6. To prepare, sign and submit all returns and statements, e.g., income-tax and sales tax returns, declarations and to verify the same by production of books and vouchers and other documentary evidence.

7. To appoint and dismiss or discharge any staff, agent, broker, menials, durwan and other menials and settle and pay their remuneration and fix up conditions of service.

8. To institute, defend and prosecute, enforce, or resist any suit or other actions and proceedings, appeals, in any court anywhere within or outside India including the International Court in its civil, criminal, revenue, revision or before any tribunal of arbitration or industrial court, income-tax and sales-tax authorities whether by and on behalf of the said firm or against it, to execute warrant of attorney, vakalatnama, and other authorities, to act and plead; to sign and verify plaints, written statements, petitions and other pleadings, including pleadings under Arts. 226 and 227 of the Constitution of India, and also to present any Memorandum of Appeal, tabular statement, accounts, inventories, to accept service of summons, notice and other legal processes, enforce judgment, execute any decree or order, to appoint and engage on behalf of the said firm pleaders, attorney, counsel and other legal agents as our said attorneys may think fit and proper and to adjust, settle all accounts, to refer to arbitration all disputes and differences, to compromise cases, to withdraw the same or to be non-suited and to receive delivery of documents or payments of any money or moneys from any court, office or opposite party either in execution of decree or order or otherwise as he shall think fit and proper and to do all acts, deeds and things that may be necessary or requisite in connection therewith.

9. To settle, compromise, or compound, any debt or claim whether in favour or against the firm.

To refer any dispute or differences arising out of the same to arbitration.

To appoint Arbitrator or Arbitrators, to file the statement of facts or counter-statement of facts, to proceed with or oppose arbitration proceedings and to apply for execution of award or to set aside the award.

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10. To open any one or more banking account or accounts in the name and on behalf of the said firm in any or more bank or banks, to deposit and withdraw money and fully operate the same.

11. To accept bills and money order, cheques, bank drafts, payment orders or other securities for money drawn in favour of the said firm and to negotiate encash credit and collect the proceeds thereof through the said account or accounts.

12. To apply for and obtain overdraft or overdrafts on behalf of the firm from any such bank or banks against such security or securities of its said trade or business or estate as he shall think fit and proper subject to clause 16 hereunder.

13. To sell, purchase, pledge, raise money or convent into money or securities for money and transfer and/or exchange and/or otherwise deal in all shares, stocks and other securities, marketable or non-marketable, cheques, bills, drafts, hundis, and promissory notes and investments through authorised brokers or otherwise and to raise loan by pledge or hypothecation of the same.

14. To compound and accept in part in lieu of or satisfaction of the whole or compromise any debt or other claim and demand against any person, firm or company or any Government or semi-Government department or Government undertaking or Life Insurance Corporation of India, to grant any extension of time for payment or satisfaction thereof upon such terms and conditions with or without securities as the said attorney may think fit and proper.

15. And generally to do all acts, deeds and things as may be necessary on behalf of the said firm to all intents and purposes as the partners constituting the same for the time being could do in their own persons.

16. Provided always that the aforesaid power shall not extend to—

           (i)  any investment or advance out of the funds and assets of the said business nor to draw, accept, negotiate, retire, pay, discount or satisfy any hundi, cheque or cheques, Promissory Note, Bill of Exchange or other negotiable instrument or instruments;

          (ii)  winding up of the business or change of its place or places or abandonment or closure thereof without the express consent of the partners in writing obtained previously thereto; and/or

         (iii)  any sale, lease, pledge, charge, mortgage or hypothecation of any of its properties, assets, credits, or goodwill which rights are all expressly reserved for the partners and are not hereunder conferred upon or delegated or otherwise intended.

Provided always that the said constituted attorney shall always keep and maintain true and faithful accounts of all dealings and transactions in relation to the said business and affairs ancillary and incidental thereto and furnish the same to the partners at all reasonable times as and when demanded and account for all receipts and vouchers for all expenses and disbursements made by him as are usual or customary in business of like nature and pay the surplus amount lying with him to the partners on demand. The said attorney shall also prepare quarterly statements of profit and loss and the balance-sheet in respect of the said business and submit the same to the partners regularly.

17. And we, the undersigned partners, do hereby and at all times hereafter shall ratify and confirm all and whatsoever other act or acts our said attorney or attorneys shall lawfully and bona fide do or cause to be done by virtue of these presents.

This power-of-attorney shall remain valid notwithstanding any change in the constitution of the firm.

In witness whereof we, the present partners of the said firm, have hereunto set and subscribed our respective hands and seals this ……… day of ………… .

Signed, sealed and delivered
at  ………………in the presence of:

Power-Of-Attorney By A Firm Deed Format

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