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Author Topic: Stamp paper  (Read 467 times)

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Offline guruhebbar

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Stamp paper
« on: January 24, 2016, 05:22:05 AM »
I am planning to invest in a project , the amount is 5.25 Lakh. The person (lets name him "A")  stays in Mumbai (project in Baroda) and me (B) in Bangalore. The money is basically given as a loan and "A" will return "B" double the amount in 3 years. This will be given in writing by "A" in a 20 Rs stamp paper and sent in post to me first and i will be paying the amount as soon as i get the letter. I will not be meeting in person at all.
My questions are,

1. is 20 Rs stamp paper ok for 5.25 lakh transaction? Should the value tf the stamp paper be related to the transaction mount or any value for any transaction amount is ok?

2. Can the paper which mentions
 "A" has received 5.25 lakh and "A" will give "B" 10.5 lakh in 3 years"
be written on 20 rs stamp paper and signed by "A" and sent through post or should "B" also be there when its written in the paper?

Anything else i need to be aware of?
 

Again Person "A" is i Mumbai(Baroda) and me i.e person  "B" in Bangalore

Offline adv.amarnath

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Re: Stamp paper
« Reply #1 on: February 02, 2016, 12:52:19 PM »
There is no option to get double money. Your agreement will be itself void. You can claim interest on your loan money that can be made on Rs.50/- Non Judicial Paper. Either you have to enter into a joint venture agreement for equal share of profit or you have to claim for interest as per government rule on your loan amount.
Regards,

Amarnath Sanyal
Advocate
Email - adv.amarnath.sanyal@gmail.com
Mob - 09830303322

 

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