Legal Question in Banking Law in India

Re: Notary ..

The document can be seen merely for confiming the terms of agreement arrived between the parties but is can not be used as valid document. However you can use the same against the opposite party but only to cnfirm the terms of agreement.

Re: Notary ..

good evening

yes as far the law is concerned he can never deny your money or else he will be criminally liable and one more advice to you if you are lending the money then better pay it by cheque drawn in the persons name only which is on the agreement

Re: Notary ..

There is no need to have an agreement notarized. The Notary may say, if called as a witness, if the agreement is disputed in a court of law that he saw the persons named therein signing their names in the Agreementand or one handing over cash to the other. He can even say that he cannot now identify the signatories. It is advisable from Income Tax Act point of view also to lend money by cheque rather than by cash.