Dear Sir,
I am a NRI, wants to purchase a new flat in the apartment which is under construction . After finalization of flat with housing promoters i approached the some bank for housing loan against the said flat to be constructed [ Some bank contact given by the promoter only] .I don't want to disclose the bank and promoter.
Since i have to leave india in a short time , promoter asked me to give power to my father to execute further loan and sale deed process and so i agreed to give power to him and then, i have been informed by some bank as well as by the promoter to execute the specific power of attorney with schedule of property details for loan purpose [ but not General power of attorney] in the format proposed by the bank (format is attached for your reference) without doing any sale agreement / deed with housing promoters against the said flat to be purchased by me?
we need your advise ,
1. Whether it is legally right or criminaly offense/encumburance since the specific power of attroney with schedule of property details to be executed without any sale agreement/deed with housing promoters for the purchase of above said flat?,
2.If it Criminialy offense /encumburance why banks are proposing this to purchasers?
