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Board Resolution Format for Granting the Power of Attorney

board resolution for granting power of attorneyA power of attorney (POA) (also known as letter of attorney) is a written legal document wherein authorization is given to represent or to act on behalf of an individual or an organisation for a specific purpose or broad purposes.

The person authorizing the other to act is called as the 'principal' or 'grantor' or 'donor'. The one authorized to act is known as the 'agent' or 'attorney' or 'attorney-in-fact'.

The board of directors of a company may pass a resolution granting one or more official general or specific power of attorney.

Template of such board resolution is as follows —

SAMPLE #1

# To grant power of attorney in favour of the General Manager

"RESOLVED THAT the Managing Director of the company, be and is hereby authorized to execute, on behalf of the company, a Power of Attorney in favour of any General Manager of the company  in the cadre/rank of ....., granting full power and authorities on behalf of the company to ........mention the purpose here............"

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SAMPLE #2

#. To authorise Managing Director to issue Power of Attorney for ............ purpose

❝RESOLVED THAT Mr. ............................., Managing Director of the company, be and is hereby authorized to execute, on behalf of the company, a Power of Attorney in favour of Mr. ............................., General Manager-Operations of the company ("the Attorney") granting full power and authorities on behalf of the company for the following purposes:

1. To execute an agreement with all the clients for the .................. services of the company;
2. To negotiate and finalize the commercials for the said .................... services;
3. To submit tenders with any organisations or authorities for the above purposes;
4. To manage the day to day affairs in carrying out the execution of project undertaken for the said services;
5. To do all such acts, deeds and things as may be necessary for completion of the projects undertaken for the said services.

RESOLVED FURTHER THAT any work carried out by the Attorney in relation to the purposes mentioned above shall be valid and binding upon the Company.

RESOLVED FURTHER THAT the power so granted to the Attorney under the foregoing resolutions may be revoked, for cause or without cause, by a resolution of the Board or by a written order by Mr. ........................., Managing Director, at any time in the future.

RESOLVED FURTHER THAT Mr. .........................., Managing Director and Mr. ..........................., Company Secretary of the company be and are hereby severally authorized to do all such acts, deeds and things as may be necessary to give effect to the foregoing resolutions.❞



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Relevant Resolution:

Board Resolution Format for Revocation of Power of Attorney

Comments

  1. shakti bhushan sharma6/18/2018

    Tried a lot to find the format in many website on this matter. But, could not find. I think this is the only place it is drafted almost perfectly. Thanks!

    ReplyDelete
  2. Anonymous9/26/2019

    This has been very helpful for me. Thanks a lot. Keep posting more board resolutions.

    ReplyDelete

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