• Film Artist Individual Loan 7 Crore from co. in how much stamp paper agreement should be executed?

If we give a loan to a film artist of Rs. 7 Crore, in return he gives he will pay the money before release of the film. It should be in how much stamp paper?
Asked 1 month ago in Criminal Law from Mumbai, Maharashtra
Religion: Hindu

You need to get it adjudicated first before the sub registrar office

Prashant Nayak
Advocate, Mumbai
14541 Answers
25 Consultations

4.6 on 5.0

Hi ,it is more secure if you get the agreement registered ..Also take a PDC cheque for the relevant amount to secure your payment in future ...Thank you 

Hemant Chaudhary
Advocate, Gurgaon
4310 Answers
31 Consultations

4.9 on 5.0

Art. 5(h)(A)(iv)

(i) If the loan amount secured does not exceed Rupees Ten Lakh - 0.1% of the amount agreed in the contract subject to minimum of rupees 100.
(ii) If the amount exceeds Rupees Ten Lakh - 0.2% of the amount agreed in the contract.

Ajay Sethi
Advocate, Mumbai
69070 Answers
4155 Consultations

5.0 on 5.0

Loan agreement is a contract . Such agreement is to be executed on stamp paper of value Rs. 100 only. 

Kallol Majumdar
Advocate, Kolkata
1871 Answers
2 Consultations

5.0 on 5.0

You need to execute a Promissory note on  plain paper with Revenue stamp affixed on it.

The promissory note must be signed by at least 2 witnesses.

 Get a passport size photo signed by the borrower as well.

This is enough to ensure your money in which stamp paper is not necessary. 

Devajyoti Barman
Advocate, Kolkata
18131 Answers
260 Consultations

5.0 on 5.0

See company can give loan to individual for same a loan agreement can be prepared and as far as I am aware of 0.1 percent of total amount as stamp duty has to be paid though confirm with the local advocate as it depend upon state to state.

Shubham Jhajharia
Advocate, Ahmedabad
20927 Answers
81 Consultations

5.0 on 5.0

This essentially boils down to the stamp act prevailing in your state, Hence, only a local lawyer can answer this.

Ashish Davessar
Advocate, Jaipur
26720 Answers
797 Consultations

5.0 on 5.0

If amount is more than one lakh rupees,one hundred value stamp is require

Mohammed Mujeeb
Advocate, Hyderabad
11763 Answers
4 Consultations

4.5 on 5.0

You can execute the loan agreement on stamp paper of rs 500 only it doesnt matter what the loan amount is.

You can take some property or cheque as additional security of your loan. 

Mohit Kapoor
Advocate, Rohtak
4816 Answers
1 Consultation

5.0 on 5.0

Rs 500 stamp paper.

Yogendra Singh Rajawat
Advocate, Jaipur
14624 Answers
19 Consultations

4.6 on 5.0

In Mumbai the stamp paper shall be for Rs. 500/-  and the loan agreement may be written in a non judicial stamp paper worth Rs. 500/- besides obtaining a promissory note.

T Kalaiselvan
Advocate, Vellore
58913 Answers
747 Consultations

5.0 on 5.0

- You  should to enter into a Loan agreement with the Artist  , because A loan agreement is a contract between a borrower and a lender which regulates the mutual promises made by each party. 

-  In this loan agreement you should mention specific terms with detail exactly what is given and what is expected in return and when etc. and further it should be prepare in the presence of two witnesses . 

- It should be on the non judicial stamp paper of at least Rs.500/-.

- Further , if there is guarantor for the said loan amount , the you can also enter into an Guarantee Agreement as well ,  with the third party to assured your loan amount. 

Mohammed Shahzad
Advocate, Delhi
1078 Answers
19 Consultations

5.0 on 5.0

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