So I have to make this agreement on a stamp paper or can it be executed on a simple sheet with a turnover stamp of 1 rupee. 8.1 The lender has agreed to repay the loan an amount of L……/- (in words) the following events are late events: 8.1 The borrower who does not repay the loan or the fees, fees or fees in the manner in which it contains or any other amount due will not be paid after the date on which it matures; or 8.2 In the event of the borrower`s death or the borrower`s bankruptcy; or 8.3 Any PDCs provided or provided by the borrower is not carried out on presentation for any reason; or 8.4 Any instruction given by the borrower to suspend the payment of PCS in accordance with clause 4D for any reason; or 8.5 on the commission of a breach of any of the conditions, conditions or information provided by the borrower to the lender in connection with this agreement or other document submitted by the borrower, which is deemed to be inaccurate or misleading; or 8.6 There are other circumstances that may jeopardize the lender`s interest. Hello, me and two of my brothers and some investors lend money to one of my ex-colleagues on the basis of handloan agreements. At first, for a few years, he was paying interest, and for the last two years he was paying nothing and it seems that he invested the amount in the country. It is not in a position to repay the principal or interest. In this case, what can we take to get the money back? Please let us know. A friend of mine wants to invest in my next start-up in India, but me and he are living abroad right now, he wants the money for equity, he also wants to invest in contract paper before I register the business. It`s possible? A solution? This document must be read carefully by the parties and the guarantor (if any). The loan agreement is legally binding if it has been printed on non-judicial stamp paper or electronic stamp paper and signed and dated by each party. The value of the buffer paper depends on the state in which it is executed. Each state of India has provisions on the amount of stamp duty payable on these agreements. Information on stamp duty can be found on the government`s websites. For example, the Karnataka State website provides stamp duty details on payment agreements, such as the Delhi site.
In the agreement, we mentioned that if he did not purchase the property in the contract date, ”does not return the money and the contract is treated as a termination.” A loan agreement is a written contract between two parties – a lender and a borrower – that can be obtained in court if a party does not maintain its end. It can be noted here that there are laws regulating financial loans in India and that a person/entity should be registered as a money lender or with the Reserve Bank of India as a banking company or as a non-bank financial company. Hello, it`s Shreekant. It`s a very good article. I have a doubt, so if you can help me, it will be great.
