Power of Attorney Resignation Letter

NOTICE OF RESIGNATION BY ATTORNEY AND REVOCATION / SURRENDER OF POWER OF ATTORNEY

(Issued under the provisions of the Indian Contract Act, 1872, the Powers-of-Attorney Act, 1882 and the Indian Registration Act, 1908)

FROM (the Attorney):

________

S/o, D/o, W/o: ________

Address: ________

PAN / Aadhaar No.: ________

Email: ________

Phone: ________

Dated: ________

TO (the Principal):

________,

S/o, D/o, W/o: ________

Address: ________

Email: ________

Phone: ________

Re: Resignation as Attorney and Surrender of the Power of Attorney dated ________

Dear ________,

1. INTRODUCTION AND IDENTIFICATION OF THE INSTRUMENT

1.1 I, the undersigned, ________ (hereinafter referred to as the “Attorney”, “I”, “Me” or “My”), am writing to formally tender My resignation from, and to surrender, the office of Attorney conferred upon Me under the Power of Attorney dated ________ (the “said Power of Attorney”), executed by and between ________ (hereinafter referred to as the “Principal”, “You” or “Your”) as donor, and Myself as donee/attorney.

1.2 The said Power of Attorney was registered before the office of the Sub-Registrar at ________ vide Document Registration No. ________ dated ________ (where applicable).

1.3 The said Power of Attorney was executed inasmuch as You were residing abroad and were unable to attend to Your day-to-day affairs, and was acted upon by Me in good faith and in Your best interests throughout.

2. NOTICE OF RESIGNATION

2.1 This letter constitutes formal and unconditional notice of My resignation as Attorney under the said Power of Attorney, to take effect from ________ (the “Effective Date”).

2.2 I confirm that this decision does not arise from any dissatisfaction with, or conflict regarding, the terms of the said Power of Attorney, and has been taken after careful and deliberate consideration.

2.3 The reason for My resignation is as follows:

________

3. NOTICE PERIOD

3.1 This letter satisfies the notice period requirement of ________ (________) days as required under the said Power of Attorney and/or as may be reasonable in the circumstances.

3.2 The Effective Date of resignation upon expiry of the notice period shall be ________. I undertake that, during the notice period, I shall continue to discharge, with due care and diligence, the duties entrusted to Me under the said Power of Attorney, save where doing so would not be in Your interest.

4. STATUS OF PENDING MATTERS AS ON DATE

4.1 The business transactions in which I am presently engaged on Your behalf are as follows:

________

4.2 The investment transactions in which I am presently engaged on Your behalf are as follows:

________

4.3 The bank accounts operated by Me and the pending banking transactions are as follows:

________

4.4 The details of any loan account or other financial transactions presently operated by Me are as follows:

________

4.5 The details of pending insurance schemes, claims and transactions presently operated by Me are as follows:

________

4.6 The authorities before which I am presently representing You are as follows:

________

4.7 The legal proceedings handled by Me on Your behalf are as follows:

________

5. CESSATION OF AUTHORITY

5.1 I hereby confirm that, with effect from the Effective Date, I shall cease to exercise any of the powers, authorities or responsibilities conferred upon Me under the said Power of Attorney, and shall not undertake any act, deed, matter or transaction on Your behalf thereafter, save as may be strictly necessary to give effect to an orderly transition.

5.2 Pursuant to the said Power of Attorney being a continuing relationship of agency, You may, upon receipt hereof, formally revoke the said Power of Attorney in accordance with Section 201 of the Indian Contract Act, 1872, and, where the instrument is registered, by way of a registered deed of revocation under the Indian Registration Act, 1908. Until such revocation is effected and publicly notified, I shall not be liable for any act done in good faith within the scope of the authority prior to the Effective Date.

6. HANDOVER, ACCOUNTS AND TRANSITION

6.1 In the event You wish to appoint a successor attorney, I request that the process be initiated promptly. I am willing to assist, to a reasonable extent, in facilitating a smooth transition and to provide such documentation or information as the successor attorney may reasonably require.

6.2 Upon the appointment of a successor attorney, all powers and responsibilities exercised by Me under the said Power of Attorney shall stand transferred to such successor.

6.3 I shall hand over all documents, records, books of account, statements, title deeds, instruments and other materials in My possession or control relating to the affairs conducted by Me under the said Power of Attorney to You or to such person as You may nominate in writing.

6.4 I shall, in accordance with Section 213 of the Indian Contract Act, 1872, render a true, full and proper account of all transactions undertaken by Me on Your behalf up to and including the Effective Date.

7. INDEMNITY AND RELEASE

7.1 I confirm that I have acted within the scope of My authority and in good faith. Subject to My rendering of accounts as aforesaid, You shall, upon completion of the handover, release and discharge Me from all further liability in respect of acts duly and lawfully done by Me within the scope of the said Power of Attorney.

Xxxxx xx xxxxxxx xxx xxxx xxxxxxxxx xx xxxxxx xxx xxxxxxxx xxxx xx xxxxx xxxxxxx xxx xxxxxx xxxx.

8. ENCLOSURES

8.1 I have enclosed herewith the original instrument of the said Power of Attorney dated ________ together with this letter. I request that You kindly acknowledge receipt of this letter and its enclosures by writing back to Me at the address mentioned above.

9. GOVERNING LAW AND JURISDICTION

9.1 This notice and all matters arising in connection herewith shall be governed by and construed in accordance with the laws of India, and the courts at ________ shall have jurisdiction in respect of any dispute arising herefrom.

Yours faithfully,

____________________________________
________
(Attorney / Resigning Donee)

Place: ________, ________

Date: ________

WITNESSES:

1. Name: ________
Address: ________
Signature: ____________________________

2. Name: ________
Address: ________
Signature: ____________________________

ACKNOWLEDGEMENT OF RECEIPT BY THE PRINCIPAL

I, ________, acknowledge receipt of the foregoing notice of resignation together with the original Power of Attorney dated ________.

Signature: ____________________________
Date: ________
Place: ________