Power of attorney form foreign holding comapny to nominee
This query is : Resolved
09 August 2012
Dear professional colleague,
Need format of power of Attorney from foreign holding company to its nominees or representative for incorporation of wholly owned subsidiary.
Thanks a lot in advance.
Need format of power of Attorney from foreign holding company to its nominees or representative for incorporation of wholly owned subsidiary.
Thanks a lot in advance.
09 August 2012
The format is same as we use it in India. The point to be noted would be to get it registered in the contracting state or through Indian embassy situated in that country
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21 August 2012
Thanks a lot for your speedy reply.
can you please post here or forward format at ca.hiteshrathod@rakchamps.com?
Thanking you,
CA. Hitesh Rathod
can you please post here or forward format at ca.hiteshrathod@rakchamps.com?
Thanking you,
CA. Hitesh Rathod
10 August 2024
Certainly! Here’s a sample format of a Power of Attorney (PoA) from a foreign holding company to its nominees or representatives for the purpose of incorporating a wholly owned subsidiary in India. This PoA grants authority to the representatives to act on behalf of the foreign holding company in all matters related to the incorporation of the subsidiary.
---
### **Power of Attorney**
**KNOW ALL MEN BY THESE PRESENTS:**
**THAT we, [Name of Foreign Holding Company], a company incorporated under the laws of [Country] and having its principal office at [Address] (hereinafter referred to as the "Company"), hereby appoint and constitute [Name of Representative], residing at [Address of Representative], and [Name of Alternate Representative], residing at [Address of Alternate Representative], (hereinafter collectively referred to as the "Attorney") as our true and lawful attorneys for us and in our name and on our behalf to do and execute all or any of the following acts, deeds, and things:**
1. **To Incorporate a Wholly Owned Subsidiary:**
- To incorporate a wholly owned subsidiary company under the Companies Act, 2013 in India (hereinafter referred to as the "Subsidiary"), and to carry out all acts necessary for the formation and registration of the Subsidiary, including but not limited to filing documents, forms, and applications with the Registrar of Companies (ROC) in India.
2. **To Sign and File Documents:**
- To sign, execute, and file all documents, forms, and papers required for the incorporation of the Subsidiary, including the Memorandum and Articles of Association, application for Director Identification Number (DIN), and any other related documents.
3. **To Represent the Company:**
- To represent the Company before the Registrar of Companies, Ministry of Corporate Affairs, and other relevant authorities in connection with the incorporation process.
4. **To Open Bank Accounts:**
- To open and operate bank accounts in the name of the Subsidiary, and to execute all necessary documents related to the opening and operation of such accounts.
5. **To Appoint Professionals:**
- To engage and appoint professionals such as legal advisors, chartered accountants, and company secretaries to assist with the incorporation process and comply with legal and regulatory requirements.
6. **To Perform All Necessary Acts:**
- To do all other acts, deeds, and things as may be necessary or required for the successful incorporation of the Subsidiary and to ensure compliance with the applicable laws and regulations.
**AND WE HEREBY AGREE to ratify and confirm all that the Attorney shall do or cause to be done by virtue of this Power of Attorney.**
**IN WITNESS WHEREOF, we have hereunto set our hands and seals this [Date] at [Place].**
**For [Name of Foreign Holding Company]**
**Signature: ____________________**
**Name: [Name of Authorized Signatory]**
**Title: [Title of Authorized Signatory]**
**Seal: [Company Seal]**
**Witnesses:**
1. **Name: ________________________**
**Address: _____________________**
**Signature: ___________________**
2. **Name: ________________________**
**Address: _____________________**
**Signature: ___________________**
---
### **Notes:**
1. **Notarization:**
- This PoA may need to be notarized in the country where the foreign holding company is based to authenticate the signatures.
2. **Apostille or Legalization:**
- Depending on the jurisdiction, the PoA may require an apostille or legalization by the relevant authorities to be accepted in India.
3. **Translation:**
- If the PoA is not in English, it should be translated into English and certified.
4. **Registration:**
- In some cases, a Power of Attorney may need to be registered with Indian authorities, especially if it pertains to property transactions or significant legal matters.
This format is a general guide and should be adapted based on specific requirements and legal advice.
---
### **Power of Attorney**
**KNOW ALL MEN BY THESE PRESENTS:**
**THAT we, [Name of Foreign Holding Company], a company incorporated under the laws of [Country] and having its principal office at [Address] (hereinafter referred to as the "Company"), hereby appoint and constitute [Name of Representative], residing at [Address of Representative], and [Name of Alternate Representative], residing at [Address of Alternate Representative], (hereinafter collectively referred to as the "Attorney") as our true and lawful attorneys for us and in our name and on our behalf to do and execute all or any of the following acts, deeds, and things:**
1. **To Incorporate a Wholly Owned Subsidiary:**
- To incorporate a wholly owned subsidiary company under the Companies Act, 2013 in India (hereinafter referred to as the "Subsidiary"), and to carry out all acts necessary for the formation and registration of the Subsidiary, including but not limited to filing documents, forms, and applications with the Registrar of Companies (ROC) in India.
2. **To Sign and File Documents:**
- To sign, execute, and file all documents, forms, and papers required for the incorporation of the Subsidiary, including the Memorandum and Articles of Association, application for Director Identification Number (DIN), and any other related documents.
3. **To Represent the Company:**
- To represent the Company before the Registrar of Companies, Ministry of Corporate Affairs, and other relevant authorities in connection with the incorporation process.
4. **To Open Bank Accounts:**
- To open and operate bank accounts in the name of the Subsidiary, and to execute all necessary documents related to the opening and operation of such accounts.
5. **To Appoint Professionals:**
- To engage and appoint professionals such as legal advisors, chartered accountants, and company secretaries to assist with the incorporation process and comply with legal and regulatory requirements.
6. **To Perform All Necessary Acts:**
- To do all other acts, deeds, and things as may be necessary or required for the successful incorporation of the Subsidiary and to ensure compliance with the applicable laws and regulations.
**AND WE HEREBY AGREE to ratify and confirm all that the Attorney shall do or cause to be done by virtue of this Power of Attorney.**
**IN WITNESS WHEREOF, we have hereunto set our hands and seals this [Date] at [Place].**
**For [Name of Foreign Holding Company]**
**Signature: ____________________**
**Name: [Name of Authorized Signatory]**
**Title: [Title of Authorized Signatory]**
**Seal: [Company Seal]**
**Witnesses:**
1. **Name: ________________________**
**Address: _____________________**
**Signature: ___________________**
2. **Name: ________________________**
**Address: _____________________**
**Signature: ___________________**
---
### **Notes:**
1. **Notarization:**
- This PoA may need to be notarized in the country where the foreign holding company is based to authenticate the signatures.
2. **Apostille or Legalization:**
- Depending on the jurisdiction, the PoA may require an apostille or legalization by the relevant authorities to be accepted in India.
3. **Translation:**
- If the PoA is not in English, it should be translated into English and certified.
4. **Registration:**
- In some cases, a Power of Attorney may need to be registered with Indian authorities, especially if it pertains to property transactions or significant legal matters.
This format is a general guide and should be adapted based on specific requirements and legal advice.
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