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Jayanta Bandyopadhyay   07 September 2024

Promissory note- court fee , registration

We (Unlisted Public Ltd Co)  have given one inter corporate loan to one NBFC for a month. But no recovery even after one year. Unfortunately, Promissory Note is signed simply on borrower's letter head. The Borrower's cheque was also not deposited based on trust. Then we could have gained the benefits of NI Act.

Does it require court fee and registration so as to file money suit in civil court.

Kindly advise



 4 Replies

Adv. G. A. Gagdani (ADVOCATE AND LEGAL CONSULTANT)     07 September 2024

You can file summary suit but it has to be within the three years

Advocate Bhartesh goyal (advocate)     07 September 2024

Yes, if you want to file suit for recovery of loan amount along with interest then you have to pay court fee.

i

T. Kalaiselvan, Advocate (Advocate)     07 September 2024

you can file a money recovery suit or even a summary suit for expeditious recovery of the advanced amount on the basis of the promissory note (even if it was executed on the letter head of the borrower), the cheque is also an additional evidence for the amount lent.

You cannot file a cheque bounce case now because it is barred by limitaition 

you may have to pay applicable court fee for the money recovery suit as per the court fee act of your state. 

vijay vaidya   07 February 2025

FIRST CHECK WHETHER REVENUE STAMP IS AFFIXED ON PROMISSORY NOTE.2]  YOU WILL HAVE TO CHECK WORDING OF PROMISSORY NOTE3]  YOU WILL HAVE TO ISSUE NOTICE TO BORROWER BEFORE TAKING ANY FURTHER STEP MENTIONING THE AMOUNT ADVANCED AND PURPOSE. 4] LIMITATION PERIOD IS 3 YEARS FROM THE DATE OF EXECUTION OF PRO NOTE5] REGARDING CHEQUE ,YOU WILL HAVE TO HAVE SPECIFIC ADVICE WHICH CANNOT BE DISCLOSED IN GENERAL. ENSURE NOTICE ISSUED IS DULY NOTARISED AND WORDING IS VERY IMPORTANT.


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