Power of Attorney by a Partnership Firm in Favour of Firm's Manager (India) by OLL
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Power of Attorney by a Partnership Firm In Favour of Firms Manager
To All To Whom These Presents Shall Come, We (1) X residing at .......... (2) Y residing at .......... and (3) Z residing .......... at the partners of M/s................................. a firm duly registered under the Indian Partnership Act being No......................... hereinafter referred to as the "said firm", carrying on the business of ................... do hereby nominate, constitute and appoint Shri .......................... son of .................. resident of ................................(hereinafter referred to as "the Attorney") as our attorney to act for us and in our name and on our behalf, and for and in the name of the firm to execute and perform all or any of the following acts, deeds, matters and things, namely:
1. To carry on the business of the said partnership firm M/s...............
2. To buy and sell all goods, things, commodities and merchandise connected with the business of the said firm and to pay and receive moneys in respect thereof.
3. To represent the firm to all intents and purposes before the Government, authorities, organisations, corporations, persons, companies in or outside India in connection with the business of the said firm and to sign all contracts, agreements, orders, letters, receipts, documents, papers and writings whatsoever and to conclude all contracts and to submit tenders, estimates, quotations, etc. to the prospective customers.
4. To ask, demand, sue for recovery, receive and collect all moneys due and payable to the said firm in connection with its business from any person or persons, company, association, Government Department, including any statutory body or authority and to give valid receipt and discharges therefor.
5. To appear before and represent the firm before income-tax, sales-tax and other authorities, municipal corporation, railways, Indian Airlines, in all courts having civil, criminal, revenue, original, appellate or revisional or special jurisdiction and before any other tribunal, government, semi-government offices, judicial or administrative tribunals and authorities.
6. To sign all applications and forms required for the licences, permits, etc. from Central Government, State Government, municipal or other statutory authority as may be necessary or requisite for the purpose of carrying on or developing the business of the firm.
7. To draw, accept, endorse, negotiate, pay or satisfy any bill of exchange, promissory notes, cheques, drafts, hundies, orders for payment or delivery of money, securities or goods, bills of lading or other negotiable or mercantile instruments or securities which may be deemed necessary or proper for the business of the said firm.
8. To borrow moneys as may be required from time to time for the business of the firm from any bank by way of overdraft or cash credit account without security or with security by pledge, mortgage or hypothecation of any of the movable or immovable assets of the firm or by way of drawing hundies, or in any other way on such terms and conditions as the said authority may think fit.
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This template is a formal legal document used by a partnership firm to grant a specific individual, typically a manager, the authority to act as their Attorney. It outlines a wide range of powers including conducting business operations, managing bank accounts, representing the firm before government authorities, and handling legal disputes.
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About this template
What is this template?
This is a formal deed of power of attorney for a business entity registered under the Indian Partnership Act. It contains specific authority to deal with 'hundies' and 'vakalatnama', which are specific to Indian commercial and legal practice. It is not a General Power of Attorney for an individual, but a focused delegation of partnership business powers.
When should you use it?
Use this when the partners of an Indian firm cannot manage daily operations and need to empower a manager to sign contracts and handle banking. If the firm is a Limited Liability Partnership (LLP) rather than a traditional partnership firm, use an LLP Resolution or specific LLP Power of Attorney instead.
What's inside
| Clause | Name | What it does |
|---|---|---|
| 1 | Business Operations | Authorises the Attorney to carry on the business of the named partnership firm M/s........................ |
| 2 | Trade and Finance | Permits the buying and selling of goods and merchandise and the handling of related monetary transactions. |
| 3 | Government Representation | Grants authority to represent the firm before Government bodies and sign contracts, tenders, and estimates. |
| 5 | Legal and Tax Proceedings | Allows the Attorney to represent the firm before income-tax, sales-tax, and municipal authorities and within civil or criminal courts. |
| 8 | Banking and Borrowing | Grants power to borrow money via overdraft or cash credit and to pledge firm assets as security. |
| 7 | Negotiable Instruments | Authorises the signing, endorsement, and negotiation of bills of exchange, promissory notes, cheques, and hundies. |
| 10 | Employment Authority | Permits the Attorney to hire and dismiss employees, accountants, or consultants and fix their remuneration. |
| Provided that | Maintenance of Accounts | Obliges the Attorney to maintain true and correct accounts of all transactions and furnish them to partners upon demand. |
Who it's for
- partners of a firm registered under the Indian Partnership Act delegating management powers
- an Indian partnership firm manager requiring authority to operate bank accounts and pledge assets
- a firm needing to appoint an attorney to represent them before Indian tax authorities
How long it runs and how it's signed
Law it's drafted under
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