NOTICE OF REVOCATION AND TERMINATION OF POWER OF ATTORNEY
(Issued under the provisions of the Powers-of-Attorney Act, 1882, the Indian Contract Act, 1872, and the Registration Act, 1908)
From (the Principal):
________,
S/o, D/o, W/o ________
Aged ________ years, residing at ________
PAN / Aadhaar / Passport No.: ________
Email: ________
Phone: ________
To (the Attorney):
________
S/o, D/o, W/o ________
Aged ________ years, residing at ________
PAN / Aadhaar / Passport No.: ________
Email: ________
Phone: ________
Dated: ________
Re: Revocation and Termination of Power of Attorney dated ________, registered as Document No. ________ before the Sub-Registrar at ________
Dear ________,
§ 1. Recitals and Identification of the Instrument. I, the undersigned ________ (the “Principal”, “I", "Me" or "My"), do hereby give You, ________ (the “Attorney” or “You"), formal notice of my intention to and the act of revoking and terminating the Power of Attorney executed by Me in Your favour dated ________, bearing registration particulars Document No. ________ (the “Power of Attorney”), under which You were appointed to act on My behalf in respect of the matters described therein.
§ 2. Background. The Power of Attorney was executed by Me, the donor, in favour of You, the donee, as I was at the relevant time residing abroad and unable to personally attend to My day-to-day affairs.
§ 3. Decision to Revoke. After due consideration, and in exercise of My right as donor to revoke an agency in accordance with Sections 201 to 207 of the Indian Contract Act, 1872, I have decided to revoke the Power of Attorney for the following reason(s):
________
§ 4. Notice Period and Effective Date. This Letter constitutes the notice required under the Power of Attorney, providing a notice period of ________ (________) days. The revocation and termination shall take effect on and from ________ (the “Effective Date”). During the notice period, You shall continue to discharge the duties assigned to You under the Power of Attorney with due care and fidelity, save as restricted by this Letter.
§ 5. Reporting Obligations. You are required to submit to Me, within the notice period, a detailed written report on all current and pending transactions handled by You on My behalf, including in particular:
5.1 A report on any ongoing business transaction conducted on My behalf;
5.2 A report on any ongoing investment transaction conducted on My behalf;
5.3 A report on any ongoing bank accounts and banking transactions operated on My behalf;
5.4 A report on any ongoing loan or other financial transactions undertaken on My behalf;
5.5 A report on any ongoing insurance schemes, claims and transactions handled on My behalf;
5.6 A report on any ongoing representation before any court, tribunal, statutory authority or public office on My behalf; and
5.7 A report on any ongoing legal proceedings, suits or cases conducted on My behalf.
§ 6. Accounting and Return of Documents. Pursuant to Section 213 of the Indian Contract Act, 1872, You shall render true and proper accounts to Me of all monies, properties, securities and assets received, held or dealt with by You under the Power of Attorney. You shall take all necessary steps to conclude pending matters, and shall return to Me all original documents, title deeds, instruments, securities, books of account, records and any other property in Your possession or control relating to the Power of Attorney within ________ days of Your receipt of this Letter.
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§ 9. Registration and Public Notice. This revocation shall be registered with the Office of the Sub-Registrar at ________ in accordance with the Registration Act, 1908, so as to provide due public notification of the revocation. A public notice of this revocation shall also be published in the newspaper titled ________ on or about ________ for the information of all concerned.
§ 10. Survival. Acts lawfully and properly done by You within the scope of the Power of Attorney prior to the Effective Date, and any third party dealings completed in good faith before notice of revocation reached such third parties, shall remain valid and binding to the extent provided by law.
§ 11. Governing Law and Jurisdiction. This Letter and the revocation effected hereby shall be governed by and construed in accordance with the laws of India, and the courts at ________ shall have exclusive jurisdiction in respect of any matter arising herefrom.
§ 12. Service. This Letter is being served upon You by registered post / speed post with acknowledgement due and by electronic mail to the address stated above, and shall be deemed duly served accordingly.
You are requested to acknowledge receipt of this Letter and to comply with the obligations set out herein.
Sincerely,
_____________________________
________
(Principal / Donor)
Place: ________, Andaman and Nicobar Islands
Date: ________
WITNESSES:
1. Name: ________, Address: ________, Signature: _____________________
2. Name: ________, Address: ________, Signature: _____________________
ACKNOWLEDGEMENT OF RECEIPT (by the Attorney):
Received on this ________.
Signature of Attorney: _____________________
________