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Raawindur (Partner)     11 November 2013

Legal advise needed

Dears Sirs,

I had entered into an agreement for a loan repayment with a friend of mine on 3rd July'13. I owe him some money. It's on a Rs. 100 stamp paper but it's not notarized. What is the legal validity of such an agreement.


 10 Replies

H. S. Thukral (Lawyer)     11 November 2013

Agreement is valid and enforceable.

Raawindur (Partner)     11 November 2013

Thanks Mr. Thukral. My friend took the original registration papers of my car as surety. But the car is registered/owned by my brother. And my brother is not aware of the fact that I had given the car papers to my friend for surety against a loan. I was told by a person with legal background that since my brother is not a party to this transaction of handing over the car papers as surety against the loan he can issue legal notice to me and my friend questioning the legality of the transaction that occured without his notice and hence has the right to ask for claiming custody of the papers from my friend. I'd like to have second opinion upon this. Kindly guide me.

T. Kalaiselvan, Advocate (Advocate)     11 November 2013

Your agreement paper will contain the acknowledgment towards the receipt of the said loan amount, which will be sufficient to recover money from you even though your surety namely the papers of the car belonging to your brother will not hold legal ground for the loan amount secured by you.

Raawindur (Partner)     11 November 2013

Thanks Mr. Kalaiselvan. I agree that the acknowledgement of the loan amount is binding upon me to repayment. I have cleared 75% of the amount so far and have taken time to clear the balance. But in the meantime my friend threatened to take custody of the car till the balance amount is cleared. I don't want him to take custody of the car. And hence wanted to know if my brother, who is the actual owner of the car, can claim custody of the car papers from my friend and not allow my friend to take custody of the car. Pls clarify.

Rakesh Sah (Sr. Manager)     11 November 2013

Hi Sir,

I worked in a company for 10  years and 7 months ( from March-3rd, 2003 till Sept-25th, 2013). The company is calculating my Gratuity only for 10 years instead of 10.7 years or 11 years. I would like to take your advice regarding this concern, Since I heard that If someone has worked for this much of period his gratuity should be considered for a round off year accordingly. Kindly advice how can I explain or prove them about this rule and convention. I will be greatfull to you.






Laxmi Kant Joshi (Advocate )     11 November 2013

you had made agreement on rs. 100 stamp paper but not notarized that agreement and not get registered in the sub registrar office then then It has no legal value and not enforceable by court of law.

Raawindur (Partner)     11 November 2013

Thanks Mr. Laxmikant Joshi. But Lawyer Mr. HS Thukral replied to my query that the agreement is legally valid and enforceable. So who is right? My agreement is not about land purchase or rental agreement. Instead, it's about a loan repayment agreement.

T. Kalaiselvan, Advocate (Advocate)     12 November 2013

Your loan balance amount can be recovered as per legal provisions only and not by using threats and coercion, i.e., they cannot hold the car as ransom to recover the loan amont especially i the evnt that the car belongs to somebody who has not stood as surety for your loan.  If they adopt this tactics your brother may lodge a complaint with the police against them for stealing his vehicle or threatening to confiscate the same illegally. 

BAALASUBRAMANNYAMM (Advocate)     13 November 2013

There is no need to Notarize the said Agreement.

Sai (Owner)     13 November 2013

My grandmother died in the year 1999. She has written a WILL for the property at Chennai in my mother's name. But we have not taken legal heirship certificate during that time. Now, we are planning to probate the WILL. For this, whether legal heirship is required. If yes, whether we can apply now i.e., after 14 years. Then what is the procedure. Regards, Sai.

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