Loan Repayment - Query
5 years ago
Hi All
After repaying a friendly loan, if the borrower insists on a new due certificate, what is a better option? A 'no due' certificate signed by lender in plain paper or any agreement to be signed in a stamp paper? If yes, how much rupees stamp paper?
Thanks in advance
A.Since it was a friendly loan and I assume that for which no agreement was signed then you should provide a no dues certificate on a plain paper. There is no need to do so on a stamp paper.
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Anonymous
Replied 5 years ago
Yes Sir, there was no initial agreement. Thanks for your response.
ROBERT D ROZARIO
Responded 5 years ago
A.Come on paid consultation through Vidhikarya
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Deepak Yashwantrao Bade
Responded 5 years ago
A.Kindly signed on 100 rs bond paper duly stamped and notarised with certified notary vendor.mention all transaction with proper format should be mention on promissory note by other party.kindly contact with vidhikarya lawyers for legal procedure.
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Anonymous
Replied 5 years ago
Thanks Deepak, that was helpful. Is it enough if the lender alone signs the bond or should we make the borrower also sign the same? Apologies, just trying to get clarity.
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