In the year 2001 I have given notorise POA of Commercial property in Mumbai , Maharashtra to my friend , I was shocked to learn that he had misused my given unregistered but notorised POA in the year 2005 and kept secret that he had transferred property in favor of his wife in registrar office by registering property in his wife name. Just few days back I learnt this from my CHS that they have received this information by letter of my friend's wife claiming the owner of Commercial property & given the details of date & receipt no of Registration.
On enquiring from my friend he briefly talked with me on phone that against some personal loan to me he had done this act.
He owes me not more than 1 lakh but my property value is more than 10 lakhs.
Few years back some advocate given me recommend that it is impossible to transfer the property on notaries POA and if he do transfer than he go to jail in 420 . that is why I have not cancelled the POA.
but now same advocates telling me I i did mistake by not cancelling the POA in that time.
Please advise me What I have to do now.
