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. 

 [CD1]POWER OF ATTORNEY BY A DEBTOR  IN FAVOUR OF A CREDITOR BANK