Car loan

Kvijay12345 (Querist) 08 July 2013 This query is : Resolved
Is it mandatory for the financial institutions to notarise the power of attorney inside the car loan agreement?Is the power of attorney in the Car loan agreement valid without been notarised ? Do the financer have any rights for the repossession of the car if the power of attorney inside the car loan agreement is not notarised?

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ajay sethi (Expert) 08 July 2013
please state the facts of your case . dont raise academic queries

R.K Nanda (Expert) 08 July 2013
state real facts.

Guest (Expert) 08 July 2013
@ K Vijay,
So far as possession rights of a finance company is concerned, under the agreement there is a clause of repossession by virtue of which a leasing and finance company can always take over possession of vehicle in case of default. Rest part as regards power of attorney is concerned, it is not necessary that the power of attorney is necessary to be registered. Non-registration or notarization of the power of attorney does not vitiate the same.

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