Irrevocable Power of Attorney (India)
This template provides an Irrevocable Power of Attorney used in India for securing loan repayments. It authorizes a financial corporation to execute and register an English Mortgage on behalf of a borrower (company or firm) over their assets, including land and machinery.
Irrevocable Power of Attorney
Know All Men by These Presents That We/ M/s………………a public/private ltd. Company incorporated under the Companies Act, (1 of 1956) with its registered office at…………….through Shri………….authorised by the Board of Directors of the Company vide Resolution dated or Constituted as a Sole/Proprietor ship Concern /Firm under the Indian Partnership Act, 1932 with its principal place of business at……………….through its partners/Namely Shri…………..having executed in favour of the Uttar Pradesh Financial Corporation a Statutory body incorporated under the State Financial Corporation an agreement a deed of hypothecation for Rs……..Rupees…………………………………..only and secured the repayment thereof by deposit of the Corporation empowering the corporation to execute a deed of mortgage in the form of an English Mortgage and have the same registered at the cost of the Company /Firm Concern if and wherever the Corporation find it advisable to do so during the pendency of the liability of the company firm concern to the corporation. Do hereby appoint the Corporation to be its attorney for its and in its name and on its behalf for otherwise for the Company/Firm/Concern for the purpose hereinafter mentioned.
To execute a mortgage in the form know as English Mortgage of the whole of the assets of the company/firm sole proprietor including and building machinery a electric fittings both present and future in favour of the corporation on terms and condition contained in the agreement and deed of hypothecation.
To sign the said deed of mortgage for and behalf of the Company/Firm concern and to have it registered with proper registering authority by admitting its execution and passing of consideration on behalf of the company/firm/concern and for the company/firm/concern.
And also execute and to do all such other acts and things as our said attorney shall deem fit for the purpose of securing the said repayment of the loan by the company /firm concern aforesaid.
To perform and obtain the Income-tax clearance certificate under Section 230-A (I) of Income-tax Act, for and on behalf of the borrower.
To apply and obtain the necessary permission/exemption under Urban Land Ceiling and Regulation Act, 1976 for and on behalf of the borrower, if necessary.
To perform the above functions either through himself for through lawfully constituted authority.
And the company/firm/concern hereby do agree to ratify and confirm whatever its said attorney shall do here under.
IN WITNESS WHEREOF, I/WE…………………………have hereunto set my/our hand(s) this………….day of…………..in the year ………...
(…………….)
(…………….)
Signature
THIS POWER OF ATTORNEY was this………..day of……… produced and executed before me and the within named………….who is ./are known to me has/have acknowledged it to be their/his act and execution.
SIGNATURE AND SEAL OF
THE PUBLIC NOTARY
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About this template
What is this template?
This document is a formal deed that creates a permanent legal agency between an Executant and an Attorney. It contains specific clauses for property alienation and judicial representation that standard revocable powers do not typically make permanent. It is not a Sale Deed and does not itself transfer ownership without further action.
When should you use it?
Use this when a power is granted as part of a commercial interest or property settlement that should not be cancelled at will. Use a Revocable Power of Attorney instead if you wish to retain the right to cancel the authority at any time without specific cause.
What's inside
| Clause | Name | What it does |
|---|---|---|
| 1 | Appointment of Attorney | The Executant appoints a specific individual as their lawful Attorney to manage property, represent them in courts, and sign legal documents. |
| 2 | Property Management Powers | The Attorney is authorized to sell, lease, mortgage, or transfer the specific property described in the Schedule attached to the document. |
| 4 | Legal Representation | The Attorney has the power to engage advocates, file plaints, and sign affidavits in any Indian court or government office. |
| 8 | Irrevocability | The Executant declares that this power is coupled with an interest and shall not be revoked until the specific transaction is completed. |
| 10 | Ratification | The Executant agrees to ratify and confirm all lawful acts performed by the Attorney under the scope of this deed. |
Who it's for
- an individual living abroad authorizing a relative to sell their property in India
- a property developer requiring permanent authority from a landowner to manage a project
- a party to a commercial loan agreement granting security interest over real estate
How long it runs and how it's signed
Law it's drafted under
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