IRREVOCABLE POWER OF ATTORNEY

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 ………...

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                                                                                       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