ABC Ltd. proposes to install plant and machinery through Leasing arrangements. The company has authorized "Y" an employee as its Attorney to negotiate and finalize the deal. Draft a Power of Attorney by the company in fa

Answer 1(c) Power of Attorney KNOW ALL MEN BY THESE PRESENTS: WHEREAS 'ABC LIMITED' a Company registered under the Companies Act, 2013, and having its registered office at............ (hereinafter called the Company); AND WHEREAS the Company proposes to install plant and machinery through Leasing arrangements; AND WHEREAS it is desirable to authorise Mr. Y of the Company to negotiate the lease arrangements, finalise and sign the Lease Deeds and other relevant papers for getting machinery for installation at the works of the Company; AND WHEREAS the Board of Directors of the Company vide Resolution No............ passed in their meeting held on............ have resolved to execute and register a General Power of Attorney in terms of the draft placed before the Board in favour of Shri............ of the Company and have authorised Shri............ director, to execute, sign, seal and if necessary register and deliver the said Power of Attorney. NOW THIS POWER OF ATTORNEY WITNESSETH AS FOLLOWS: That the Company hereby appoints Mr. Y of the Company as its 'Attorney' so long as he is in the services of the Company and notwithstanding any change in his designation to do severally the following acts, deeds or things in the name on behalf of, and at the expenses of the Company: To negotiate with any Leasing Company for leasing arrangements for taking plant and machinery on lease basis for installation at the Works of the Company; To finalise, settle, execute and sign, and where necessary seal Lease Arrangements, other deeds and papers in connection therewith; The attorney is authorised to enter into any kind of contract, execute and perform all obligations and receive and accept all benefits for and on behalf of the company. The attorney is authorised to enter into, make, sign and do all such agreements, receipts, payments and contracts, etc. as he thinks proper and expedient in the interest of the company. And generally to do all acts, deeds and things, as may be necessary for the above purpose; 6. And the Company hereby agrees that all acts, deeds or things lawfully done by the said Attorney under the authority of this Power of Attorney hereby given shall be construed as acts, deeds and things done by the Company and the Company undertakes to lawfully do or cause to be done by virtue of the powers hereby given. IN WITNESS WHEREOF this Power of Attorney has been signed and sealed by Shri............ director, authorised in this behalf vide Board Resolution No............ dated............ on this .... day of ............ 2023, in presence of: WITNESSES: 1. 2. DIRECTOR