Section 157 : Power of attorney

1) A foreign company to be registered pursuant to Section 154 shall submit office copy of a power of attorney executed in the specified format in accordance with the legal requirements of the country where the company has been incorporated or its registered office is situated, hereby appointing a person residing in Nepal as its authorised representative for the purposes of the service of any summons or notice or authorising such person to receive any other lawful notices on a lawsuit or legal action instituted on behalf or legal against the company.

2) A power of attorney executed pursuant to Sub-section (1) shall state, inter alias that where any summons or notice on a lawsuit instituted on behalf of or against the company or other legal notice is delivered to the authorised representative, it shall be binding on the company for any purpose whatsoever.