icon draft for loan funding to existing sole propritorship firm with fixed returns

draft for loan funding to existing sole propritorship firm with fixed returns What type of legal agreement would hold Legal standing in The Indin courts for a person making investment in a running Sol


A. 1) It depends on what type of business the proprietor company is having.
2) The business should be of some physical commodities like paper distributorship, onions etc. like it should not be off the market commodities like shares finance or further investments as the business should be physically visible to you.
3) Fixed income of 5% interest is not applicable in any courts maximum what you can ask for the interest is 24% per annum.
4) If you want such higher interest or something of that sort, i ...ReadMore

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icon Sir

I have taken gold loans from IIFL one year back And I have paid all the interest. Now today I have received Mark to market notice from IIFL that I have to pay more than 1 lakh with in 4 days. Please


A. Dear Sir,
You may approach police and also get issue a strong legal notice.

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Ankur Goel @ Complete Law Shield

Ankur Goel @ Complete Law Shield

icon Need to recover maintenance fee from an owner of a apartment society

Hi, Need help who to recover maintenance fee from an owner who has settled in USA but not paying maintenance fees for her flat in a society. Can we send her legal notice? Also, apartment society is no


A. 1. you can serve him a legal notice through a lawyer to make payment of the outstanding amount along with the interest,
2. if payment is not made despite service of the legal notice, you can file a civil suit for the recovery of the amount,
3. you can claim the legal expenses also from the flat owner,

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icon Mehtab

I borrowed 18 lakh rupees from one private lender on 3% interest and paid interest for almost 2 years and now am unable to pay the interest and amount. He us threatening that he will file case in poli


A. Why did you borrowed 18 lakh rupees from one private lender on 3% interest ? What did you do of that money? That too without any documents is very nice... Give some such money to others also.. As he has no documents he may manage to make any documents as Rs.18 is a very large amount... Don't take him for granted...as things may turn bitter on the other side.. Try to settle it amicably.....& close off the issue.

If you realize my professional skills, the time & efforts put in by me needs to be t ...ReadMore

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icon Money lending on 10 percent interest per lonth

I had taken 1 lakh from sumone and he is asking me 10 percent interest for one month which is troublig me. And he is harassing me if I do not pay him the interest on time. What should I do ?? Is 10 Pe


A. I have gone through your query in detail.
1) You are a Victim of Private Financer. You are paying 10% Monthly for 1 lakhs is exorbitant charges. You seem to be a educated person then too you have taken a loan @10% monthly is quiet surprising.
2) Due to the lockdown situation even the financial institutions such as banks and NBFC have relax the norms for repayment of the loans and other installments. This person is pressurizing you for money make sure that you record all his/her calls and SMS.
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icon Can i get a loan by giving my firm's bad debts or debts as collateral ?

Hi, Can my firm take a loan from any individual, firm or bank by giving my firm's debt as collateral security . I sell goods & give emi option to my clients, i think, the installments which are to be


A. you sell goods and also provide EMI options to your clients, the EMI's payable by clients are called Receivables.
You can approach any bank and ask for loan facility

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