Loan given to relatives

thirumalaisamy (Querist) 31 October 2014 This query is : Resolved
i am giving r.s 50000 loan to relatives, what is document collected from relatives.

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V R SHROFF (Expert) 31 October 2014
u r giving loan rs 25000 OR Rs. 50,000/-to RELATIVE

COLLECT promissory note + pdc.

LET THEM ISSUE U PAN CARD, RC, PHOTO SIGNED & TAKE A PHOTOGRAPH WHILE PAYING LOAN, BY CHEQUE ONLY.

MONEY PAID ALWAYS CARRY RISK...EVEN TO GOD..

thirumalaisamy (Querist) 31 October 2014
ok sir in future any risk from relatives case filing to promissory note+pdc

Sudhir Kumar, Advocate (Expert) 31 October 2014
already advised at

http://www.lawyersclubindia.com/experts/Loan-504321.asp#.VFNG3meO5G0

Rajendra K Goyal (Expert) 31 October 2014
Agree with the expert VR SHROFF.

Devajyoti Barman (Expert) 08 November 2014
yes promissory note is best option preferably with a photograph pasted on it and attested by 2 witnesses.

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