Money giving to my friend for business purpose...

salman khan (Querist) 07 June 2014 This query is : Resolved
my friend giving some of Rs.30,000/- to his friend for business in Medicine purposes for two months, so what kind of benefit my friend take in lieu of giving money whether he can take benefit in cash or take free of cost medicine as profit for giving money.......... he also giving PDC Cheque in lieu of money ......... so which types of documents my friend require to ensure to avoid dispute in future.

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ajay sethi (Expert) 07 June 2014
since his friend has given post dated cheque for said amount obtain a letter from friend that he has received Rs 30,000 and promises to repay said amount within period of 2 months

Rajendra K Goyal (Expert) 07 June 2014
The loan and the repayment benefit are to be decided on mutually agreed terms. PDC with a letter is enough security.

Advocate Bhartesh goyal (Expert) 08 June 2014
Get a promissory note duly stamped, filled and signed by your friend alongwith receipt of loan amount.

Raj Kumar Makkad (Expert) 10 June 2014
I stand with the advice of Bhartesh ji. Confirmation letter in the form of Pronote is best.

salman khan (Querist) 18 June 2014
thanks all expert to giving a best of best advice, but the pro note must have on stamp paper or on plane paper.

Raj Kumar Makkad (Expert) 21 June 2014
Pronote is a typed format and a revenue stamp is required to be affixed thereto.

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