agreement on stamp paper without notorised or registered

Ruchi arya (Querist) 29 April 2011 This query is : Resolved
If person A sign an agreement with person B that he will return Rs. 70,000/- within two months which was taken by him on last year in presence of five witness who also sign on this agreement. This agreement is on Rs. 50/- stamp paper, neither non-judicial nor judicial, written on this stamp paper. This is also not notorized or registerd. The person A is denied that this agreement is fake and never he write this type of agreement. This agreement is valid or not? Ad. Ruchi

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M/s. Y-not legal services (Expert) 29 April 2011
he may deny it.. till? because even its may be unregistered document.. but there is 5 witness are available.. so the person B can prove it easily..

M/s. Y-not legal services (Expert) 29 April 2011
more over the court ask the expert opinion mean automatically the person A will loose his case.

Devajyoti Barman (Expert) 29 April 2011
Definitely it is valid.
Since no immovable property is getting transferred by this agreement no registration, stamp duty or notarisation is required.
It is a simple acknowledgment to repay the money on the basis of which suit for recovery of money could be filed within the time covered by the Limitation Act.

M/s. Y-not legal services (Expert) 29 April 2011
yes i agree with mr.barman

Guest (Expert) 30 April 2011
Agree with Devajyoti

Kumar Krishan Agarwal Advocate (Expert) 30 April 2011
The signed Stamp Paper is a bill of exchange which promised to pay a certain amount after a definite period to the lender with interest. It is a criminal breach of trust and U may initiate criminal and civil proceedings against defaulter at a time. record the evidence of witness before any court as they why witnessed on stamp paper for the veracity of your claim and case proceedings.

malipeddi jaggarao (Expert) 30 April 2011
Agree with Devajyuoti Burman

M V Gupta (Expert) 30 April 2011
The document is an acknowledgement of debt coupled with an undertaking to pay the amount within a specified time.The document is said to have been attested by witnesses and thus is liable to stamp duty as bond. You have stated that the agreement has been executed on "a stamp paper of Rs.50/-, neither judicial nor nojn judicial"! Then what kind of stamp paper was used? pl clarify.

Uma parameswaran (Expert) 30 April 2011
It is a legally valid document.

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