26 Sep Loan Agreement Format Between Two Parties In India
The Companies Act 2013 regulates the granting of loans, guarantees or guarantees by companies to their directors (direct or indirect). Dear VINAY. Suggest avoiding a loan and investing in other options instead. In general, it is the borrower who pays. Hello, I and two of my brothers and few investors lent money to one of my ex-colleagues on the basis of a handloan agreement. At first, he paid interest for a few years, and in the last two years he pays nothing, and it seems that he has invested the amount in the country. He is not able to repay the principal or interest. In this case, what resources can we take to get the money back? Please call me. Dear Prakash, advise yourself to get the agreement as soon as possible. Granting credit to friends/relatives themselves turns out to be very risky and if you don`t have an agreement, just imagine the quantum of the risk. I trust them and I think their business plan is solid. However, I would like to follow your advice and draw up a credit agreement in order to formally agree on conditions. Are there any special clauses I should add as a foreigner lending money to people from India? Thank you for your reply, Patrick All correspondence should be addressed to the address indicated in the description of the parties in the preamble to this agreement.
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