POWER OF ATTORNEY BY A DEBTOR IN FAVOUR
OF A CREDITOR BANK [CD1]
KNOW ALL MEN BY THESE PRESENTS that I
________________________,
S/o
_____________________________________________________,
R/o
________________________________________________________, do hereby send
GREETINGS WHEREAS I am very heavily indebted to ______ Bank (hereinafter
referred to as "the said Bank") and my liability is partly secured by
the pledge of my goods and partly by the equitable mortgage of my immovable
properties with the said Bank; AND WHEREAS a major part of my said liability is
unsecured; AND WHEREAS I have agreed to appoint the said Bank to be my true and
lawful attorney to execute decree in suit No. ______________ of
_____________________ and to do the following acts, deeds, matters and things
for me, on my behalf and in my name and to credit to my account the sum or sums
which may be realized in execution of or under the said decree; NOW KNOW ALL
MEN BY THESE PRESENTS that I do hereby irrevocable constitute, nominate and
appoint the said Bank and/or any principal officers and/or any other person or
persons that may be appointed by the said Bank or its assigns from time to time
in this behalf to be my true and lawful attorney for me and on my behalf and in
my name to represent me therein and do all acts, deeds, matters and things in
connection with the execution of the said decree, that is to say : —
1.
To proceed in execution of the said decree
and to proceed to realize and recover the decreed amount.
2.
To withdraw any amount that may be deposited
in any court in the said decree and/or other proceedings in connection with the
execution of the said decree or any other order passed or made therein and/or
in any Insolvency Court or from the Official Receiver concerning Insolvency of
any of the defendants. AND I hereby agree that all acts, deeds and things
lawfully done by the said Bank for me under powers hereby given to it shall be
construed as acts, deeds and things done by me and I undertake to ratify and
confirm all and whatsoever the said Bank shall lawfully do or cause to be done
for me by virtue of the powers given by this deed. IN WITNESS WHERE OF, we have
signed this deed on this day of ____________. Signed and delivered by the above
named
WITNESS:
1.
2.
Executant.
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