Dear Mr Reddy, I would like to ask for a personal credit case in which I gave 10lakh rupees as a loan to a known person in interest, I took check from him for the same amount signed a fixed paper with indication of the interest rate and the duration of one year for the contract . No clause is mentioned as what will happen after the end of the contart period, nor on penalties or non-repayment clauses of principal and interest . the person had paid regular interest to me in the 1st year and even in the 2nd year with the return of 5 pricipal pricipal. but now for the past two years, he has no interest and the principal in indicating his financial situation is poorly paid. the check he gave is obsolete and because no refund condition fails and penaties is mentioned on the stamp paper.. I can ask him to be interested, and if he denies it, there is nothing I can do about it legally. A simple loan contract describes the amount borrowed, whether interest is due and what should happen if the money is not repaid. Hello, thank you for the voluble items. Pl tell me how much paper of bonds for the registration of a loan contract for 6 lakh.. 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.“ Dear Kartika. It depends on the terms and conditions written in the agreement. Is this clause included in the agreement that you must return the advance if the buyer is unable to purchase the property?? 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. Hello Srikanth, this is a very informative article.
I have a request that I took 23 L, real estate credit from a bank . Today, a friend of ours says he can lend us money to close this loan, and we have to pay back the same without interest. As a Muslim, he may not like to earn or spend on interest. So if we borrow money from him, what could be tax and how can we save taxes? because we don`t give it tax problems and the same for us. He has a savings account from which he can lend UA via the RGS or the cheque. Greetings, dear Shri Sreekanth, I lent my friend a sum of Rs. 3 lakes, with no interest in hoping that he would pay it back. One year is already over. The last time I contacted him, he said he was not able to pay it back now.
But I still hope he will return the money, if he can. Now he`s out of touch. Has a friend, relative or colleague borrowed money from you? Read our article with smart strategies that will help you get your money back. Hello, thank you for this beautiful article. I made a request my friend with his brother-in-law needs urgent money and my brother-in-law friends have their own home, but unfortunately no bank is willing to grant them mortgages because they have not filed a payroll or income tax return.