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
