Annexure 22- Format of Power of Attorney
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SPECIMEN
THIS GENERAL POWER OF ATTORNEY executed on the dily
of Two Thousand~ __
BY
[Name/s and addressl~_~~ _
a Nun Resident Indian, presently working and residing at __~ -' herein
after referred to as 'Principal' .
[N FAVOUR OF ;
[Narnejs and address
~ an Indian
Resident, herein after referred to as 'the Attorney' on the other part
NOW TO KNOW ALL MEN BY THESE PRESENTSTHAT
1. r am / We are presently working at _~ . .
[give full address of the PrinCipal]
---~~--~------------------- ------.-
-----,--- -----_.
l/We am/are desirous of <lcquiring certain immoveable property / tes in India and
J or the absolute owner of all that property / ics
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[Details] more fully described in the Schedule A below [the
property proposed to be acquired and J or schedule A property together
herelnatter referred to as the "said property"].
2_ In order to acquire / purchase tmrnoveable property I ies and I or to develop
such acquired / purchased property / ies and I or schedule property, I / we
intend to avail certan credit facilities from lJank of Baroda and / or I / we have
availed credit facilities such as _ fmm Bank of Baroda, _
Branch on for the purpose of ~ . And also l/We
am/are maintaining deposit account No _
with the said branch.
3. Consequent to my/our employment abroad as atoresatd, I am / we are not in a
position to deal with or attend day-to-day affairs of said property and / or service
my / our loan / deposit account/s availed / maintained with Bank of Baroda,
___________ Branch. Hence it is felt necessary to appoint an
Attorney to carry out any I all acts in connection with the iKqlJisition,
management and disposal of said property on my / our behalf as well as to
maintain J service the loan accounts / deposit account NO _
4. Therefore, r/ we . _
the above named do hereby nominate, constitute, apnotnt and retain
5ri. , ayt.>d years, 5/0
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-----:-:---::-----------------_ -
-------- ---- (full address and occupation to be given),
whose signature is attested here below as my / our true, lawful and legal
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attorney in my/our narne/s and on my/our behalf, to do all or any of the
following acts, deeds, and things, specificany-
a. To borrow! raise loan from Bank of Baroda to purchase any immoveable
properties in my/our name/s and on my; our behalf anti take possession
thereof;
b. To burrow! raise loan frum Bank of Baroda as against the securities of said
property referred to above or otherwise;
c. To manage I maintain tile said property;
d. To pay all taxes, charges and fevie~ in regard to the said property and tu
obtain valid dischar~}cand receipt/s thereof:
e. To enter into any agreement I contract Including the Development
Aqreement/s in respect of the said property with the Developer / Co-
operative HOUSingSociety or any other contractor;
f. To execute loan documents for availing the credit facilities from Bank of
Baroda and to execute all further document; to facilitate availing /
continuing to avail the credit facilities from Bank of Baroda;
g. To create mortgage, hypothecate, etc., in respect of my; our said property
in favour of Bilnk of Baroda by executing necessary documents in order to
secure the borrowings referred to above as well as to obtain valid discharge
from Bank of Baroda;
h. To Lease out said property either to the Bank of Baroda or in favour of any
other person/s as deemed necessaryand to receive security ceposlts, rents
therefrom;
i. To purchase properties on my / our behalf and to pay consideration thereof
and to register/ present documents for registration;
j. To open deposit account/s, loan account/s with !lank of Baroda; and
operate the seme on my; our behalf;
k, To appear for and represent me I us before ilil Government, Statutory,
Local, Revenue, Tax and other Authorities as also Courts and Tribunals;
I. To submit application/s and affidavits, statements, returns to the
Government and/or any other Statutory Authorities concerned, to obtain
necessary clearances, exemptions, sanctions and permissons required
under any Act / Rules;
m. To enter into aqreement/s for sale of the said property, to sell and
convey the said property and execute Deed of Sale in favour of
purchaser/s; and do everything necessary for completing the conveyance
and registration of such Sale Deeds; and to sign all Forms, Affidavits,
applications in that behalf;
n, To receive the sale consideration, advances, earnest money deposits, part
payments and balance payments in regard 1.0 the sale of the said property
and issue receipt/s and acknowledgements therefor;
o. To apply for ano obtain all clearance certiflcate/s andl or no objection/s
required from the concerned Authority;
p. To apply for and obtain necessary clearances, permissions and consents
required in connection with sale / constructions / management of said
property;
q. To initiate, prosecute and defend all ArbitraUon, Legal, Revenue, Tax and
other proceedinqs relating to the said property and in that behalf, engage
the services of legal and tax practitioners, instruct them and remunerate
them;
r, To sign and execute pleadings, applications, petitions, affidavit'),
dedaratlons, memorandum of appeal, Revision and Review, Returns and
other papers/documents and to receive and accept service of processes,
Notices, Orders and acknowledge them;
s. To settle, compromise, compound, withdraw any Suitj proceedings
relating to said property and obtain vaiid discharge thereof; and to do all
things and be in charge of conduct of such proceedings;
t. To pay all rates, taxes arid cessesand obtain receipts therefor;
u, And generally, to do all other lawful acts, deeds and things necessaryin
regard to aforesaid;
I / WE HEREBY AUTHORISE my/our said Attorney to delegate all or any of the
aforesaid powers to anyone else and any such delegation will be valid only when
accompanied by a certified copy and I or will be valid for transaction speofic and at the
first instance the original of this shall be produced for verification.
r / WE HEREBYAGREE AND UNDERTAKEto obtain back the original of this deed
from the Attorney whenever r I we r<:.x:allj cancel this deed of General Power of
Attomey from attorney and shall give notice of such withdrawalj cancellation.
I I WE HEREBY AGREE AND UNDERTAKE TO RATIfY AND CONFIRM all and
whatsoever my / our said attorney may lawfully do pursuant to this Power of Attorney;
Signature of the Attorney
~-=:~:Jj
pass
pflOto,
port sec
Wltto
sigI1~tur. across of
the 'Ito~1CY
Attested:
--._--.
Signature of Prindpal
SCHEDULE-A
[Detnils of the property/ ies the principal is already having]
IN WITNESS WHEREOF I have executed this GENERAL POWER OF ATIORNl:Y
at ~~_(place)of (name of the country)
Sri. _
Signature of the Principal
[POA has to be ex"CIIted betore embassy and requires to be att""ted by embassy offICialsann pro<Jf thercot].
[Note: Format only. To be modified to suit the transaction! "IK1mit)'sought:to be 9i"",,]
Annexure -23
Execution of Documents by Power of Attorney: Format of letter to be obtained
from the Principal confirming that the documents executed by his Attorney.
(To be stomped as Agreement)
Dote:
Place:
To
The Branch Manager
Bank of Baroda
Branch
Dear Sir,
Sub: Confirmation of loan Documents exec ed by Mr/Mrs .
........................ my/our constituted attorney for the .
facility of Rs av iled by me / us from your Bank.
1. At my / our request Bonk of Baroda Branch vide their letter
No dated sanctioned m / us following credit facilities on the
terms and conditions mentioned therein. I / e have accepted the some on
................... by putting my / our signature on the so d sanction letter:
(0)
(b)
(c)
(d)
2. At my/ our request bonk has allowed me / us to exe ute the security documents and
creation of security through my constituted attorne in respect of aforesaid credit
facilities sanctioned by the Bonk. Accordingly Mr / Mrs my lour
constituted attorney pursuant to Power Of Attorney gro ed by me on ,
executed security documents and created mortgage y deposit of title deeds on
...................... , on my lour behalf.
3. Today, I I we have visited your branch and perused following documents executed
and mortgage by deposit of title deeds created by Mr I Mrs my
lour constituted attorney:
(0)
(b)
(c)
(d)
4. I I We hereby confirm and ratify oct done I documents executed, mortgage by
deposit of title deeds create by Mr I Mrs my constituted
attorney in favour of the Bonk to secure aforesaid credit facilities granted by the Bonk to
me I us. The said documents executed and mortgage by deposit of title deeds created
I any other documents executed by my lour constituted attorney are valid subsisting
and binding on me I us. I I we waive all my lour rights to challenge these documents
before any forum and undertake to protect and save bonk against all claims, losses,
damages, costs, expenses, actions, suits and other proceedings resulting from
documents executed by me I us on my lour behalf by my lour power of attorney
holder mentioned hereinabove.
Signature
1. Mr./Mrs .
2. Mr./Mrs .
obtaining disbursements, taking possession of the property and complying with various related
formalities. The series of these activities are time involving and may require presence of the
buyer/so It may not possible for Non Resident Indians to visit India frequently for completing /
undertaking various tasks related to finalization of the property and obtaining the loan from a
Bank.
If it is decided for valid and justifiable recsons to permit the Power of Attorney holder to execute
the documents, the relative powers of attorney should be registered in the books of the Bank
and a true copy of the Power of Attorney should be kept with the documents.
Copy of standard format of Power of Attorney is enclosed in Annexure-22
a. .An NRI(not under any legal incapacity to contract) desirousof granting Power of Attorney
in favour of hisrelative or anyone else may do so in the draft format as per Annexure-22.
b. The Power of attorney to be executed abroad shall be got attested by the office of Indian
Embassy of that country. Such a Power of attorney needs to be executed at the office of
Indian Embassyonly and not at the office of Embassyof that foreign country.
c. Branchesshould ensure that POA granted by the principal in favour of the agents/attorney
is unconditional. duly stamped and is in force as on date. It is mandatory that the POA
executed overseas should be done only in the office of the Indian Embassiesabroad and
should be got attested by the Office of the Indian Embassyand those executed in India
should be done only in the office of the Registrar of Assurances. The POA executed in the
presence of Notary Public/magistrate, either in India or abroad should not be entertained.
d. The attorney / agent should also be a major and of sound mind. Further, the person
appointed as "Agent" in the POA should not be a third party but they should be closely
related to the Principal. Closely related category include only husband, wife, son,daughter,
father, mother, father-in-law, mother-in-law, brother, sister, daughter-in-law, son-in-law,
brother-in-law and sister-in-lawof the Principal. Effortsshould also be taken to include the
"Agents/POA holders"as guarantors, in their personal capacity, thereby involving them at a
future date for recovery and alsofor their commitment due to any cancellation of the Power
of Attorney in the intervening period.
e. On receipt of duly executed Power of Attorney in India the same is required to be
adequately stamped within 90 days from the date of receipt in India and same should be
got registered with the Registrar of Assurances to make it enforceable till such time its
revocation.
f. Power of Attorney attracts stamp duty under the provisionsof the Stamp Act applicable to
the state, where it isto be acted upon.
g. Power of attorney granted by one person,who has a joint account with another authorizing
a third party to operate upon the joint account. should not be acted upon. All the parties
to a joint account mustjoin in executing such a power of attorney.
h. An attorney cannot employ his principal's property for his own use, Branches should not.
therefore, accept without enquiry, cheques signed by a person as attorney for or-other
party for credit of hispersonal account.
i. The details of power of attorney so received should be noted in a register e.g. date of
receipt, date of power of attorney, name of the client. nature of account and name of the
attorney. Each entry in the registershould be authenticated by the officer, who has verified
the copies. Such registration of Power of Attorney in the books of the branch must be
initialed by the Branch Manager / Joint Manager, who will be responsiblefor its correctness.
j. The documents should state full names of the parties. Initials/ short names or abbreviated
names of the parties should not be written.
MasterCircularon BarodaHomeLoans BCC:BR:113:355
dated21.06.2021 361 P age
