NRI Car Loan Power of Attorney

To All to Whom These Presents shall come, I/We 1. _______________________________
2. _______________________________ {Give full name & address of NRI guarantor(s)}.
Where there are more than one guarantor, names and address of all the guarantors
should be given}.
WHEREAS State Bank of India _______________________________Branch/RACPC
(hereinafter referred to as SBI) granted/agreed to grant loan to the tune of `________________
for purchase of a car/motor vehicle to Shri./Smt. _______________________________and
Shri./Smt. _______________________________ at my/our request and subject to the
condition that the repayment of the above-referred loan granted by SBI is guaranteed by me/us
as stated in the sanction letter No. ________________ dated ________________.
AND WHEREAS I/We have agreed to guarantee the aforesaid loan and are required to execute
the Guarantee Agreements in favour of SBI which I/We are not in a position to do
expeditiously and/are therefore desirous of appointing some fit and proper person on my/our
behalf to do all necessary acts and things in connection with the aforesaid.
NOW KNOW YE ALL AND THESE PRESENTS WITNESSETH THAT I/We do hereby
nominate, constitute and appoint Shri./Smt. _______________________________ {Give full
name & address of the attorney}, whose photograph is pasted below, to be my/our lawful and
true Attorney for the purposes hereinafter expressed i.e. to say
1. To execute the Guarantee Agreement as per the format(s) enclosed herewith in
connection with the above mentioned loan(s) and any other document necessary for
the said purpose and deliver the said document(s) to the concerned branch of SBI
and to pay necessary stamp duty on the Guarantee Agreement or any other amount
which is required to be paid while executing the said Guarantee Agreement.
2. To appoint Advocates, Solicitors in connection with the above if deemed fit by my
attorney and pay their fees/remuneration.
3. 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 do to
effectuate the aforesaid.
Please paste the
photograph of the Power
of Attorney holder here
AND I/We, the above named _____________________________ {State the name(s) of the
guarantors} do hereby undertake to ratify whatever the Attorney may lawfully do or cause
to be done in and by virtue of these presents.
IN WITNESS WHEREOF, I/We, the above named have hereunto set my/our
respective hands on this ________________day of ________________.
(Photograph of the persons executing the Power of Attorney)
Signed, Sealed by the within named
Signature(s)
1. _____________________________
2. _____________________________
Before Me
Notary Public/Magistrate
Note:
1) The photograph of the Power of Attorney holder needs to attest by the
executants of the Power of Attorney.
2) The standard format of the Guarantee to be executed by the POA holder should
be forwarded to the NRI guarantor either my mail or any electronic mode
which we can download. A copy of the said format of Guarantee should be
enclosed by the NRI guarantor along with the POA.