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Arun Singh (Manager)     04 August 2013

Promissory note

1. I require a format for Demand Promissory Note for amount of Rupees three Crores,
    which is due from the opposite party towards share of property and there has been no  
    cash transaction.
2. Whether any stamp duty is required to be paid for this promissory note? If yes, what is  
    the value of stamp duty to be paid or value of stamp to be affixed?
3. In case the opposite party is a company, should the Demand Promissory Note be 
    made on plain paper, opposite party’s Letter Head or Stamp Paper?
4. In case the opposite party is a company, whether any company seal is required to be 
    put on Demand Promissory Note?
5. Whether interest clause @ 24% per annum can be included in Demand Promissory 
    Note? 
6. Is there any need for attestation of Demand Promissory Note? If yes, by whom?
7. Whether any witnesses are also required to sign said Demand Promissory Note?
8. Any other precaution to be taken or condition to be met for said Demand Promissory   
    Note as per law? 
 
Please advise


Learning

 2 Replies

A.SUMATHY 9380902017 (LAWYER)     04 August 2013

Stamp duty as per the Local State Law. Amount is very huge. Consult an Senior Advocate near to you

Advocate Sastry (Advocate)     04 August 2013

Consult your local Advocate


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