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Shubham Joshi   24 January 2019

giving loan

can i give a loan of 10k to my frnd on interest of 12%..?


 3 Replies

Dr J C Vashista (Advocate)     25 January 2019

What is the dispute involved in the question for consideration and obligation of legal experts ?

1 Like

G.L.N. Prasad (Retired employee.)     25 January 2019

The financial transactions in between friends and relatives are not prohibited by laws.  But, it is prudent to consult a local expert to safeguard your financial interest and to obtain proper legally valid precautions to get back money without entering into long litigation.  Consult local advocate, obtain promissory note, cheque towards repayment at a future date and other usual precautions like security or guarantee from a third party also.

1 Like

P. Venu (Advocate)     03 February 2019

Yes, if this is a matter of trust and not of Law.

1 Like

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