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Partnership Firm Authority Letter Template

The document is an authority letter from the partners of a firm authorizing specific partners to execute loan documents for a business loan. It confirms that all partners are aware of and accept the terms of the financing scheme and that any actions taken by the authorized partners will be binding on the firm. Additionally, it states that the firm is registered under the Indian Partnership Act, 1932, and outlines the process for operating the firm's proposed account.

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3K views1 page

Partnership Firm Authority Letter Template

The document is an authority letter from the partners of a firm authorizing specific partners to execute loan documents for a business loan. It confirms that all partners are aware of and accept the terms of the financing scheme and that any actions taken by the authorized partners will be binding on the firm. Additionally, it states that the firm is registered under the Indian Partnership Act, 1932, and outlines the process for operating the firm's proposed account.

Uploaded by

Raja
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Authority letter for execution of loan documents and mode of operation in case of partnership cases-

No Objection Certificate from all Partners

Dear Sir,

We, the partners of M/s.______________________ having our office at


_______________________________________________ declare that we are aware that our Firm
M/s____________________________ / partner Mr / Mrs / Ms ______________________________ is desirous of taking
a Business loan of Rs.________________________________________________________________________ for the
purpose of meeting working capital requirements.

We do hereby authorize our partner/s Mr./Mrs./Ms___________________________and


Mr./Mrs./Ms________________________________ jointly / severally (whose specimen signature/s is/are set out
further below herein) to execute all necessary documents in connection with the said facility

We have read and understood all the terms and conditions of your financing scheme as stated in the Facility
documents and the same are known and acceptable to us and all acts done and any documents executed
by any of the authorised partner/s in connection with obtaining the said facility shall be binding on the firm
and each of the partners as if done / executed by us. In the event of dissolution of our firm, we shall be jointly
and severally liable.

We further confirm to Axis Bank Ltd. that we are the only partners of the firm and the firm is unregistered /duly
registered under the Indian Partnership Act, 1932. We shall advice Axis Bank Ltd. in writing of any changes,
which may take place in the partnership.

We hereby authorise below mentioned authorized signatory/ies / Partners jointly and/or severely for
operating the Proposed account of the firm to honour cheques, bills of exchange ,and promissory notes
drawn , accepted or made on behalf of the company to do the business transactions (whose specimen
signature/s is/are set out further below herein) :-

Specimen Signature(s) of the aforesaid authorized signatories / partner/s of the firm :

Signature of Mr./Mrs./Ms : ___________________________

Signature of Mr./Mrs./Ms : ___________________________

Thanking you,

Yours faithfully,
For _______________________
(to be signed by all the partners)
Sr. No. Name of the partner Signature
1

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