Loan agreement

Rudraansh Arohra (Querist) 13 September 2021 This query is : Resolved
Need to understand wether a unsecured loan of amount below 10 lakhs has to be executed on a Judicial or a Non Judicial stamp paper. The loan agreement has to be executed on which stamp paper.

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This discussion clarifies the correct type of stamp paper for loan agreements. While loan agreements are generally executed on non-judicial stamp paper, one party unexpectedly requested judicial stamp paper. Experts confirm that judicial stamp paper is exclusively for judicial purposes, and non-judicial stamp paper should be used for all agreements, including loans.

Advocate Bhartesh goyal (Expert) 13 September 2021
All type of agreements including loan agreement are executed on Non Judicial Stamp Paper.

kavksatyanarayana (Expert) 13 September 2021
Yes. Every document shall be executed on Non-judicial stamp paper.

Rudraansh Arohra (Querist) 13 September 2021
But the loan provider mentioned that they need documents on Judicial stamp paper which is surprising for me.

SHIRISH PAWAR, 7738990900 (Expert) 14 September 2021
Hello,

Judicial stamp papers to be used for judicial purposes. So you have to use non-judicial stamp papers.

Dr J C Vashista (Expert) 14 September 2021
Well opined and advised by experts, I endorse the same.

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