Credit and debit transfers

aananth (Querist) 05 August 2017 This query is : Resolved
Dear Expert
Promissory Note and bill of exchange:
Kindly clarify whether it has to handwritten or typed, can write in any one of Indian languages, and stamp value.
For International Credit and debit transfers which governing Indian Law is applicable?
Thanking you

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Rajendra K Goyal (Expert) 05 August 2017
Academic query.

State material facts of the problem if any.

How are you concerned / related with the query?

Looks like examination question.

aananth (Querist) 05 August 2017
Dear Expert
I am concerned with promisory note. I have searched in the web where I come across BoE. For Prmisory Notem I an write in Tamil Language.which is for my rental balance. my tenant vacating the premise, I want a format stating that within six months the rent arrears of Rs. 6,000.00p will be paid from September 1, 2017 without any interest. Is Rupee one Revenue stamp is enough? Thanks in advance.

P. Venu (Expert) 06 August 2017
The facts posted do not suggest any promissory note or BoE. A simple undertaking could serve the purpose.

aananth (Querist) 06 August 2017
Thanks Expert.
My understanding that undertaking with revenue stamp affixed would be sufficient for the above case.
I shall be thankful under what circumstances P.Notes are undertaken?

Rajendra K Goyal (Expert) 06 August 2017
You can search language of pronote on google.

Printed format after filling the blanks can be used. The additions need authentication.

May visit:

http://www.lawyersclubindia.com/experts/Sample-of-promissory-note-273011.asp

aananth (Querist) 06 August 2017
Dear Expertji
I have visited the http://www.lawyersclubindia.com/experts/Sample-of-promissory-note-273011.asp
Resourceful and useful to me in particular.One of. Experts is of the view that P.Note without Notary witness signature may amount to pro-note.
Thanks.
Web searched Sample complied with Notary witness:
Promissory Note:

Amount:------------- Date-------
Place: -------------
I, Mr. “ABC” make commitment to pay "XYZ" Company, the sum of Rupee ---------------------------------
Repayment to be made in the form of 200 equal payments at the interest rate of 14 % of Rupee-------------------------------payable on the 10th of each month beginning 10/09/2017 until the total amount of debt is paid.
In Witness whereof, I set my hand with seal this day---- of month-------- 2017.
And I acknowledge receipt of a completed copy this instrument.

Signature of "ABC": Maker or Debtor

Name ("XYZ") and Address of Payee:
Seal of Notary
My Commission Expire
------------/------------/2017

***This is subject to be adopted after Experts Approval****

Dr J C Vashista (Expert) 07 August 2017
Very well explained and advised by experts, I agree. Nothing more to add.
For further doubts/queries consult a local lawyer.