The loan granted under this agreement is for ……………………… month/years. The loan period cannot be extended, even with the written agreement of both parties. I have the same case as sreejith that I signed PN in 2013. I learned that the PN validity is only 3 years? So, after 3 years, the PN is no longer valid? but I had the email conversation with the borrower until last week that, where he acknowledges that he took the money, can I use this email conversation as evidence in court if necessary? I live in a metro town and I want to lend 1 Lake Rupee (with int.) to my grandmother in the name of her acquaintance in my village. I would like him (grandmother acquaintance, a doctor) signed by NEFT and signing the change of sola. I would like to know what the risks are. The friend said he was also going to have two witnesses signed. If he didn`t return the amount, it will be a long-running battle by the court for justice (remember, I live in a metro town and he in a district of another state)? He is responsible for paying monthly interest on time and my grandmother trusts him very much.
I don`t trust the people in this big crowd. And also, as you said, to write down the check number on PN, what should be written in the case of neft? I`m going to collect his photocopy of identity and his details. Pls lemme know if additional steps to take while borrowing the money. If a provision in this agreement proves invalid or unenforceable, the invalid or unenforceable provision is considered to be replaced by a valid enforceable provision that best corresponds to the intent of the original provision, and the rest of the agreement remains in force. 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. As Shakespeare wrote: “Loans are often lost to both themselves and their friends.” If you lend money to a friend or family member, be careful not to get your money back and never return to normal. Think twice before lending money to a friend. Sometimes it`s best not to lend money to a friend if they keep an eye on their best interests. If you borrow money from your friend/parent (non-financial institutions) to build a house, repayments (payments) are not deductible.
The tax deduction for refund in Section 80c is not permitted. Each Contracting Party provides the following assurances and guarantees concerning itself and confirms that they are true, correct and valid: (a) it has the full power and power to conclude the terms and provisions of this Agreement, including exercising its rights, fulfilling its obligations and providing the assurances and guarantees it has provided; b) His commitment under this agreement is for him definitive and excessive against him.