PROMISSORY NOTE

A promissory notice is a negotiable instrument duly stamped is documentary evidence that a lender has advanced certain amounts to borrower with certain interest rate and terms of repayment.  It has to be duly stamped with Rs.0-25 revenue stamp wherein the lender promises to refund and gives a discharge through receipt of the stated amount by signing across the revenue stamp.  It is a bonafide proof of lending to the borrower and is documentary evidence.