Sir, I am a businessman based in Faridabad, Haryana. I have lended about Rs 40 lakhs to a friend of mine, who needed the amount urgently for some personal reasons, and resides in Jhansi, UP. I had lended the sum at zero percent interest, but it was secured by taking an asset-backed pro-note from him. The pro-note was made on the stamp-paper of Haryana state, as I reside in Haryana and he came to collect funds at my home, but the property he pledged to back-up the pro-note is based in Jhansi, UP. I want to know, whether stamp-paper of UP had to be used for preparing pronote, as he is based in UP or the stamp paper of Haryana is ok as I reside here and the agreement/pronote was prepared here only. Though I know that a pronote on plain paper is also sufficient to sue him in case of default, but I don't want any lengthy litigations. Also, the gurantor for the loan is also based in Haryana, and the debtor has given him a PoA to directly seize and sell his agricultural lands in UP, without any litigation or notice in case he defaults and doesn't clear the dues after recieving a notice by the lender, but the PoA can only be executed after default and only be used for settling the dues by open auction of the land. This PoA is also made on the stamp paper purchased from Haryana state, as the transaction took place in Haryana state. But I want to know whether the PoA made on stamp paper of Haryana stands valid, as the property in question is based in UP.
