lending money
Rajan Shashikant Patel
(Querist) 25 August 2015
This query is : Resolved
Hello sirs ,
My friend is in need of Rs. 500000 /- , as he want to expand his business. Even I want to help him out by lending money.
1- Can I ... ? ... if yes , can I take interest from him ..? ( as i m not a registered or professional money lender ) . He is willing to give me blank cheque.... And ... also ready to give me in writing on notorised copy . (2) is it a legal practice. .? ... and ... if anything went wrong. .can i recover my money against blank cheque and notery copy ..? ... plz. Advice.
SAINATH DEVALLA
(Expert) 25 August 2015
If U have confidence and faith in him U can proceed as the documents U wish to obtain can be put in the dust bin,if he turns turtle for repayment,except the cheque U possess and the notarised agreement to a certain extent.Money though may not bring friends but can create enemity.
Yes U can take interest as it would be unofficial.
R.K Nanda
(Expert) 25 August 2015
better consult local lawyer.
Rajendra K Goyal
(Expert) 25 August 2015
You may lend. If he defaults, you have indulge in long chain of litigation.
M/s. Y-not legal services
(Expert) 25 August 2015
if you want to help him mean no need to get interest. while being so for the proof of your transaction you can transfer the amount through bank. either by d.d or account payee cheque.
its will be covered into i.t also.. y
M/s. Y-not legal services
(Expert) 25 August 2015
if you want to help him mean no need to get interest. while being so for the proof of your transaction you can transfer the amount through bank. either by d.d or account payee cheque.
its will be covered into i.t also.. then you will be in safe zone..
