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Borrow from a farmer

May I borrow 25 lacs rupies from a farmer intrest free in my bank account. Get an agreement on stamp paper or promissory note that the farmer has given me in my bank account for ten years without any intrest. 

And lateron use this money from account to purchase a house ?

Dr. Erodha 


 3 Replies

Amit Sharma   31 May 2023

yes you can borrow if method is lawful

Real Soul.... (LEGAL)     31 May 2023

Yes there is  problem at all. You can borrow any amount and that is even tax free .

Harendra Kumar (A Practicing Lawyer)     06 June 2023

Legally can not be take but, this is not illegal transaction as loan, its is unsecured loan. However as pessonelly you can be take.


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