Power of Attorney to Collect Debts (India)
This document is a formal Power of Attorney designed to authorize an agent or attorney to recover and collect debts on behalf of another person. It grants the attorney specific powers to file lawsuits, settle claims, initiate insolvency proceedings, and hire legal counsel to ensure the principal's financial interests are protected.
Power of Attorney to Collect Debts
To All to Whom These Presents Shall Come, I Mr. ... of ... residing at ...
Whereas in the course of my business. I have several amounts to recover from others and which were either advances or loans or on account payments or as deposits or arising out of sale and purchase of goods.
And Whereas due to my old age (or any other cause) I am unable to take necessary action to recover the said debts and I therefore propose to appoint Mr. ... residing at... as my attorney or agent. to do all acts and things in that behalf which he has agreed to do.
NOW KNOW YOU ALL and THESE PRESENTS WITNESS THAT I Mr.... do hereby appoint. and constitute the said Mr. ... to be my true and lawful attorney with all authority to do and execute the following acts, deeds and things In my name and on my behalf and in my name viz.
1. To demand and recover all the debts and other amounts due or payable to me on any account from any person or persons Including anybody corporate or any Govt. or any local or other authority and to give valid receipt or discharge for the same.
2. To file suits, petitions. or take any other legal action, against any such person as aforesaid to recover the debts or other amounts due and payable by him to me, in any Court of law, Tribunal or any other judicial or quasi judicial or executive authority.
3. To compromise, compound or settle or adjust any debt or other amount due and payable to me by any such person on such terms and conditions as the attorney may think fit.
4. To take any insolvency or liquidation proceedings against any person who is indebted to me for any amount.
5. For the purpose aforesaid to sign, declare and file plaints, petition applications, affidavits and other papers referred required to be filed in any court or tribunal In any such legal proceedings.
6. To defend any legal action taken against me In the matter of any debt due to me or alleged to be due by me in any court or tribunal.
7. For the purpose aforesaid to appoint any advocate or advocates and to sign vakalatnama in his or their favour and to change him or them if required and to settle and pay their fees.
8. To refer any dispute regarding any debt or other amount due to me or alleged to be due by me-to arbitration to one or more arbitrators as required and file statements of claims or defences and documents, to give oral evidence and to conduct such activities personally or through advocate and to sign the agreement for reference to arbitrators.
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