K Pradeep (Clerk) 03 August 2011
Sir I have given a sum of Rs 15 lacs to my friend as a loan. Amount credited to this Bank Account. He is paying interest on the amount every month and the interested is getting credited in my SB Account with SBI. I gave this amount on a promisory note. The note is affixed by a Rs 1 revenue stamp. Please confirm if the promisory note duly affixed by Rs 1 revenue stamp is challengable in the court and will it be accepted as a legal document.
AAK (Advocate) 05 August 2011
There will be many legal complications you may face if dispute arose. You are not having any license under the money lenders act to charge interest. You may face complication for recovery.
K Pradeep (Clerk) 05 August 2011
sir, then suggest me what will be the best option to lend money to sumone without having
a licence. plase suggest
DEFENSE ADVOCATE.-firmaction@g (POWER OF DEFENSE IS IMMENSE ) 05 August 2011
No way for any activity which is not legal.
Sudhir Kumar, Advocate (Advocate) 03 December 2011
You need to consult stempt act to see if the pronote of Rs 15 lakh is valid with Rs1 stamp, in the sat where it was executed.
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