Power of Attorney by a Partnership Firm (India) by OLL
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This document is a General Power of Attorney designed for a partnership firm to authorize a specific individual (typically a manager) to conduct business operations. It covers broad powers including financial transactions, legal proceedings, property management, and employee oversight.
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About this template
What is this template?
This document is a general power of attorney granted by a partner to a firm's manager. It contains specific authorizations for handling 'hundis' and 'hire purchase' of vehicles which are not found in standard individual POAs. It is not a partnership deed or a limited power of attorney for a single transaction.
When should you use it?
Use this when a manager needs to sign tax documents, hire staff, and manage bank accounts for a partnership firm. Use a Special Power of Attorney instead if the agent is only authorized to sell one specific piece of property.
What's inside
| Clause | Name | What it does |
|---|---|---|
| 1 | Purchases and Hire Purchase | Authorizes the attorney to execute agreements for the purchase of cars, scooters, and trucks specifically on hire purchase terms. |
| 3 | Financial Instruments | Permits the attorney to draw, accept, negotiate, and satisfy bills of exchange, promissory notes, hundis, cheques, and drafts. |
| 7 | Property Transactions | Enables the attorney to purchase movable and immovable properties and acquire rights, leases, and licenses for the firm. |
| 9 | Borrowing and Securities | Grants authority to borrow money from banks and pledge or mortgage firm assets and bonds as security. |
| 11 | Legal and Tax Representation | Allows the attorney to manage matters involving sales tax, income tax, and represent the firm before Tribunals and arbitrators. |
| 18 | Human Resources | Authorizes the attorney to hire accountants, clerks, and peons and determine their salaries and remuneration. |
Who it's for
- an Indian partnership firm delegating full operational and legal authority to a manager
- partners seeking to authorize a representative to handle tax refunds and bank document retirement
- a firm requiring an agent to sign plaints and written statements in civil or criminal matters
How long it runs and how it's signed
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