Power of Attorney to Sell Shares (India)
This document is a formal power of attorney template that authorizes a specific individual (typically a broker) to sell shares and securities on your behalf. It grants the attorney the power to monitor market conditions, sign transfer forms, receive sale proceeds, and deposit them into a designated bank account.
Power of Attorney to Sell Shares
To All to Whom These Presents Shall Come, I Mr. ... residing at ...
Whereas I hold certain shares and securities mentioned in the Schedule hereunder and propose to sell them at the best price available.
And Whereas as at present situated I am unable to do all acts and things required to effect the sale of these shares and securities.
And Whereas I, therefore, propose to appoint Mr. ... who is himself a share broker to be my true and lawful attorney to sell the said shares and securities and to do all acts and things in that behalf and which the attorney has agreed to do.
NOW KNOW YOU ALL AND THESE PRESENTS WITNESSES that I, Mr. ... hereby appoint and constitute Mr. ... to be my true and lawful attorney with full power or authority to do and execute the following acts, deeds and things in my name, on my behalf and for me viz.
1. To sell the shares and securities mentioned in the Schedule hereunder written or any one or more of them, step by step at the best market price available at the date of actual sale, Provided that the attorney shall study the market situation from time to time and effect the sale of such of the said shares and securities in respect of which the market Is favourable for sale.
2. To sell the said shares and securities as aforesaid either through a share broker or direct to any customer available.
3. On effecting the sale, to sign the necessary transfer forms and other documents if any and to file the same with the company/corporation concerned for transferring such shares or securities to the name of the purchaser.
4. On effecting the sale, to hand over to the Purchaser the share certificate or other documents evidencing title to the share and securities.
5. To recover the price of the shares or securities sold and to pass valid receipt for the same.
6. To credit the sale proceeds of such shares or securities in my Bank Account with Bank of .………….
7. To pay any commission or brokerage if any payable to any broker including the said attorney for effecting the sale and to deduct the same from the sale proceeds.
8. To advertise the proposed sale of the said shares or securities if thought necessary and to sell the same to the buyer offering the highest price.
9. To do all other acts and things as may be necessary to effect sale of the said shares and securities as early as possible.
AND I, hereby agree to ratify all lawful acts and things done by the said attorney pursuant to the powers hereinbefore contained.
IN WITNESS WHEREOF I Mr. ……… have put my hand this ………. day of…………...2000.
THE SCHEDULE ABOVE REFERRED TO :
Signed and delivered by the
withinnamed Mr. …………...
in the presence of ………….
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