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R.KARPOORASUNDARAM (ASSISTANT PROFESSOR)     20 July 2019

Loan on cash

My friend got a loan of 20 laks from his relative by cash. Not account transfer. Please let me know the implications.


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 2 Replies

Adv Deepak Joshi +917017821512

Adv Deepak Joshi +917017821512 (Advocate)     20 July 2019

cash transition worth 20 lac is illegal, secondly in case other party deny then will be very tough to prove.
G.L.N. Prasad

G.L.N. Prasad (Retired employee.)     21 July 2019

There is no risk to your friend who has borrowed such amounts, let the lender take his precautions.


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