Legal Question in Banking Law in India

term Loan agreement

What value of special adhesive stamps to be affixed on term Loan agreement in banks ?


Asked on 3/07/09, 1:00 pm

5 Answers from Attorneys
J. Radhakrishnan independent Practice

Re: term Loan agreement

It has to be stamped as an agreement and if it contains power of attorney clause, it has also to be stamped as a power of attorney. The rate of stamp duty is as per Schedule to the State Stamp Act. The Bank will collect the stamp duty appropriate to the wording of the agreement.

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Answered on 3/09/09, 2:49 pm
Pranav Desai PD Legal & Associates

Re: term Loan agreement

It will depend on the State/place where you are executing the agreement.

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Answered on 3/08/09, 12:37 pm
Homi Maratha N.N. Maratha & Co.-Advocates

Re: term Loan agreement

It varies from State to State.

Please consult a local lawyer alongwith the details.

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Answered on 3/13/09, 6:32 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: term Loan agreement

The banks have already fixed stamps on the agreements; and if not, they will guide you to purchase stamps from the market.

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Answered on 3/07/09, 3:43 pm
Aniruddha Pawse Aniruddha.P.Pawse Advocates

Re: term Loan agreement

depends upon place where you are.

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Answered on 3/09/09, 5:02 am


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