Hi all,
One of my friend is giving credit of 5 lakhs Rupees to his friend. Please guide me what agreement has to be prepared for that and what is the stamp we have to pay.
Thanks & Regards
Devaraju K
Devaraj Krishna (Legal Practitioner) 02 November 2010
Hi all,
One of my friend is giving credit of 5 lakhs Rupees to his friend. Please guide me what agreement has to be prepared for that and what is the stamp we have to pay.
Thanks & Regards
Devaraju K
M.S.Bhalerao (advocate) 02 November 2010
if the period is upto 3years it will be a short term loan and a Demand Promisory note will suffice. If the period is longer then a term loan agrrrement will have to be executed. stamp duty will be according the state regulations.
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