GOKULDAS KAMATH (EX BANKER) 29 October 2021
I am working for a Chennai based NBFC. A borrower was required to execute an additional loan agreement for restructure of his loan account .The draft of agreement is dated 22.10.2021 and it needs to be got executed .on a stamp paper. Borrower purchased e stamp paper on 29.10.2021 in which agreement dated 22.10.2021 was typed
Kindly clarify whether old dated loan agreement on a new stamp paper of later date is valid
kavksatyanarayana (subregistrar/supdt.(retired)) 29 October 2021
No. It is contrary to Rule 6 (2) of Stamp Rules, 1925.
Anand Bali Adv. (Advocate Solicitor & Consultant) 30 October 2021
Yes, it can be done. as both the parties are only giving a legal enforcement to an agreement to which they arried mutually few days ago. As in your case the draft of the agreement for a loan was made first with a mutual understatnding and then further to give it a legan enforecment on an understanding of agreement is has been executed on a Stamp paper lateron, thus making it as a CONTRACT between two parties.
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