Gpa For Book Debts

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APPENDIX - 45
[ Part II -chap 2 - 12]
(GENERAL POWER OF ATTORNEY FOR BOOK DEBTS AND SUPPLY BILLS)
TO BE STAMPED AS GENERAL POWER OF ATTORNEY
Know all men by these presents that I / We / M/s .................................................................................... herein
after called the principal/s do hereby nominate, constitute and appoint M/s Corporation Bank, a banking company,
constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 having its Head
Office at Managalore and branches inter alia one at ............................................ herein after called The Bank for
the following purpose in terms and conditions hereinafter set out.
Whereas the principal has / have obtained financial accommodation from the bank by way of ......
.............................................. upto a limit of Rs............................................. against the security of book debts.
Whereas the principal/s has / have / will be submitting monthly statement of book debts furnishing therein the
names of the debtors and the amounts due from each of them against their names. And whereas the principal/
s is / are desirous of authorising the bank to demand, receive, recover / realise all the outstanding that are now
due and that may become due hereafter to the principal/s from all and every person/s, firm/s, whomsoever
concerned or chargeable therewith including the persons named in the monthly statements of book debts
submitted to the bank all and every sums of money/s, debt/s together with interest. Now in pursuance whereof
these presents witnesseth as follows:
1. The bank is hereby authorised to do and performs, act/s the following acts in its own name and on
behalf of as if principal/s has / have personally done.
2. To demand / collect on behalf of the principal/s all payment due to him / them from all and every
person and to give valid receipts / discharge for having received the same on behalf of and in the name
of the principal/s.
3. To recover and receive / realise any debt due and owing and that may hereafter become due and be
owing to principal/s from any person/s, firms.
4. To demand / sue / recover all non-payments of the dues to the principal/s and or to take any other
proceedings for recovery thereof in a court of law / tribunal / authority as the case may be.
5. To sign, verify and file plaints, applications, written statements, objections, execution of decrees or
orders of any court or tribunal and to bid for and purchase property in court sale in execution of
decrees or otherwise.
6. To defend compromise, compound or withdraw every case or refer any matter or case to arbitration.
7. To appoint and constitute on behalf of the principal/s, pleader/s, vakil / advocate/s, or any other attor-
ney whenever and wherever deemed necessary at the absolute discretion of the attorney and or to
dismiss / change them whenever attorney thinks it proper.
Organisation and Methods Division
Manual of Instructions - Documentation of Loans and Advances - Part -III
294
8. Generally to sign, collect, do and perform such instrument and all acts and things that may be required or
necessary in or about the execution of these presents according to the true intention thereof.
9. The authority hereby given shall be irrevocable and shall remain in full force and virtue until all the
liabilities of the principal/s to the Bank are satisfied / paid / adjusted out of the realisation made in
pursuance hereof or otherwise.
10. The prinicpal/s hereby undertakes to hand over all the documents /accounts in connection with the
book debts or otherwise as may be required by the Bank on being requested / called upon to do so
either for the purpose of inspection / perusal or for the purpose of production before the court.
11. The borrower hereby specifically confirms the right of authority of bank to adjust / appropriate towards
the dues of the principal/s out of the net realisations / recoveries made pursuant to these presents.
12. The principal/s hereby agree/s to ratify and confirm whatsoever shall be lawful by virtue of these
presents and hereby agree/s to ratify and confirm as valid and effectual against his / their successors in
business or assignees whatsoever.
In witness whereof THE PRINCIPAUS ABOVE NAMED HAS / HAVE signed this Deed of Power of
Attorney this .............................................................. date .......................... 20 ........................
Signature of the Principal/s
Witness:
1. (To be attested by a Notary Public or a Sub-Registrar)
2.
Organisation and Methods Division
Manual of Instructions - Documentation of Loans and Advances - Part -III

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