Promissory note revalidation

neha (Querist) 30 November 2017 This query is : Resolved
Dear sir/ Mam,
Do we renew promissory notes after expiry of 3 years through court by paying fee?
Please advise me regarding this.
Thanks in Advance.

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Vijay Raj Mahajan (Expert) 30 November 2017
Promissory note's validity for recovery dues expire after 3 years. If both parties agree to extend the payment of the promissory amount in future date just before the expiry of 3 years period that can be done by making necessary amendment in the promissory note with new date of payment.

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