Promissory note take delivery letter importance

Sanjeev Reddy Saikam (Querist) 23 July 2017 This query is : Resolved
Why do bankers take DP Note take delivery letter? Whether a borrower shall compulsority sign the same?

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Dr J C Vashista (Expert) 24 July 2017
How you are concerned and what are the facts of the case?

Sanjeev Reddy Saikam (Querist) 24 July 2017
I am a banker. One of the objections by our customer is this. He is telling he has not delivered d note to bank. I want to defend if d bank questions me on this.

Sanjeev Reddy Saikam (Querist) 24 July 2017
Ok. I thought it's easy getting an answe here Thank you. The question is not answered.

Kumar Doab (Expert) 24 July 2017
Expert Mr. Mallipedi Jaggarao, Mr. Parthasarthy Longanathan, Mr.G.L.N. Prasad, Mr. Rajendra K GOyal at LCI are from banking background...........

You may get in touch with them.

The colleagues in your bank, Unions office bearers can also update you.

Rajendra K Goyal (Expert) 24 July 2017
As a Banker you should get legal opinion from your law department at controlling office for authenticity. The liability and execution can be proved otherwise also. The P Note must be in favor of Bank which is enough. Delivery letter is more important if pronote is executed in favor of guarantor and endorsed in favor of Bank by guarantor. Otherwise not much important.

Kumar Doab (Expert) 24 July 2017
You can benefit from post of Mr. Rajendra K Goyal.

Sanjeev Reddy Saikam (Querist) 24 July 2017
Waste of time.

P. Venu

(Expert) 25 July 2017
Any and every organisations many a meaningless procedures as a matter of mere practice over and above the prescribed procedure and/or even after such procedure is rendered redundant or even counterproductive. Any amount of legal advice cannot address this situation; only the willingness of the authorities to assume responsibility can.