Draft format of the Power of Attorney to be executed by the borrower/
guarantor authorizing the Power of Attorney holder to execute the
loan/ guarantee documents or to create equitable mortgage
ANNEXURE –‘II’
[To be stamped as a Power of Attorney as per applicable State Stamp
Act, within three months from the date on which it is received in India]
POWER OF ATTORNEY
TO ALL TO WHOM THESE PRESENTS SHALL COME
I/We 1…………Age .. Occupation………., 2 ……………….Age..
Occupation…….. residing at ………………..[ Full name, address of the
NRI Borrower. In case of more than one NRI borrower, Name & Address
of all of the NRI Borrowers]
WHEREAS, State bank of India …………………………. Branch / RACPC
(hereinafter referred to as “SBI”) has sanctioned / agreed to sanction
Home Loan to me/us to an extent of Rs……….
(Rupees…………………………………………. only/-) for purchase/
acquisition of the property more particularly described in the Schedule
hereunder (hereinafter referred to as “Schedule Property”) vide
Sanction Letter No …………. Dated ………….
WHEREAS I/We require to execute necessary documents to avail the
Home Loan in terms of the aforesaid sanction and also bound to create
mortgage in respect of the Schedule Property by way of Mortgage
(Mortgage by Memorandum of deposit of Title Deeds/ Simple
Mortgage) and do other acts necessary to create security in favour of
the Bank.
WHEREAS I/We will be proceeding abroad/ are staying continuously at
abroad and therefore I/We will be personally unable to be present and
execute the documents and create security in favour of SBI as per the
terms of the sanction. As I/We will not be personally present to execute
the documents and to do the necessary acts required by SBI, It has
become necessary to appoint a fit and proper person to act as an
attorney to act on my/our behalf to do all necessary acts and things in
connection with the aforesaid.
NOW KNOW BY THESE PRESENTS that I/We, the said (1) …………….
(2) ……… do hereby nominate and constitute and appoint Shri/ Smt /
Ms ……………., Age …. years, Occupation: …………., R/o.
…………………………………………, whose photograph is pasted below as
my/ our true and lawful attorney for me/ us in the name
and on behalf of myself/ ourselves for the purposes hereinafter
expressed i.e., to say, to do, exercise, execute and perform all or any
of the acts, deeds and things in connection with the above referred
Home Loan in favour of SBI in my/our name and for and on my/ our
behalf in such form as SBI may require and lodge the documents with
appropriate statutory/ administrative or other authorities wherever
necessary.
- To appoint Advocates, Solicitors in connection with the above and pay
their remuneration.
- To deposit the original title deeds with respect to the Scheduled
Property to SBI with an intention to create security thereon as and by
way of mortgage by deposit of title deeds and also to make a
statement to the above effect while delivering the title deeds for and
on my/our behalf and subsequently confirm such deposit of title deeds
to SBI.
- To apply for, appear and obtain necessary clearance and/ or
permission from the concerned authorities with respect to the
Scheduled Property in connection with the above referred Home Loan
and submit the same to the Bank wherever necessary.
- To do all the necessary things and acts in connection with and/or
incidental to the above stated matters which my/our attorney deems
fit and necessary to effectuate the aforesaid.
I/We, the above named (1) …………………… (2) ………………….. (Name
of the borrowers) do hereby agree and undertake to ratify and confirm
all and whatsoever my/ our said attorney shall lawfully do or cause to
be done in and by these presents.
Please paste passport size photograph of ‘Attorney’, which has to be attested
SCHEDULE (Give detailed description of the property)
IN WITNESS WHEREOF, I/We, he above named have hereunto set my
/ our respective hands on this ………. day of……….
Signed, sealed by the within named
Signature(s) 1………………………………. 2…………………… Before Me
Notary Public*/Magistrate
(* Where the document is executed in a foreign country it should be
attested only by Indian Embassy/ Consulate/ High Commission)
Note: The photograph of the Power of Attorney holder needs to be attested by the
executants of the Power of Attorney.
