Sirs,
I had applied for Education Loan from PNB for my younger son's Higher studies abroad against mortgage of my house as co-lateral. I am joint owner with my elder son who is also abroad. He sent me a General Power of Attorney duly attessted by the Indian Consulate in USA. As per advise from Sub-Registrars office I got it Notarized. The Law manager of PNB does not agree and desires an Affidavit/ declaration to be Registered stating that I am the true beneficiary with my Photo Identity. i approached Three Sub- Registrars offices and also the JDR at Pune. All have refused to register stating that the document as it is is legal and does not require any such registration of an Affidavit/Declaration. Notarization is done in the presence of a Law officer certifying the true identity of the beneficiary.
PNB refuses to disburse the Loan unless this requirement is fulfilled.
Can anyone help me as to what is the legal requirement on this by quoting authority, so that I can present it to PNB accordingly.