Legal Question in Banking Law in India
I am working in Axis Bank, Nellore Branch as a Deputy Manager.I request you to clarify the following:
One customer is enjoying cash credit loan against the collateral Securities. Out of which one property owned by Shri A.Reddy. Now he is studying MS in Australia. He is in view to execute the POA in favour of his brother. For which please advise the procedure...
1 Answer from Attorneys
send him the power of attorney typed in the stamp paper sufficient as per local State law for that power of attorney and let Sri.Reddy sign it in the presence of the 1st officer of Indian Embassy or consulate ( it may be called High commissioner's or Dy.High commissioner's office there) have it attested by him with his official seal and thereafter send it to you, so that the POA holder authorized by him can execute the necessary documents on his behalf.
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