Execution of loan documents

Sanjeev Gupta (Querist) 16 January 2016 This query is : Resolved
A student alongwith father as co-borrower applied for Education loan. The loan was sanctioned but was not availed by them at that time. Thereafter student moved out of India for his studies. Now, they want to avail the education loan but the bank is asking for personal presence of the student at bank for execution of Loan documents including DP Note.
Please advise if there is any way out to get the loan documents including DP note executed by the student studying abroad.

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Guest (Expert) 16 January 2016
it is sole discretion of lender how he wants to execute loan papers. You can post this query in CA club of India

Kumar Doab (Expert) 16 January 2016
The bank has not withdrawn the sanction.

The bank is under obligation to execute the documents as per its internal procedure.

Inform the bank of students presence abroad and ask if there is a way out.

Rajendra K Goyal (Expert) 16 January 2016
Ask from the Bank whether your duly authorized power of attorney can sign the loan documents.

Sudhir Kumar, Advocate (Expert) 17 January 2016
not a legal query.

Sanjeev Gupta (Querist) 20 January 2016
Thank U all for your opinions. But treat the query maker as banker who wants to disburse the loan but is confused with respect to documentation part.Please help to provide legal remedy to execute documents which can withstand if required at the time of enforcement.