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Is this signed document on company letterhead valid in this case?
20-Feb-2023 (In Corporate Law)
A private finance company has approached to invest. They said I can earn 1.5% of the invested amount each month. They claim they put the investors money in margin funding and earn. So I decided to invest 1 Lakh in it. I have transferred ed the money to them. They gave me in writing on their company letterhead the following:n-------nRespected SirWe having office at {their office address in Mumbai} have availed a loan of Rs 1,00,000 (One Lakh only) from ( my name) at the interest rate of 1.5% per month. The interest will be payable at 1st week of every month. nnWhenever you need the money please give 15 days prior notice to us. nnThanking you,n{Signature}n{Company Name}nn---------------nnThey did not stamp it. So My question is this a valid document? If he fails to return my principal money can this document be useful for taking legal action?
This document will not help you much and I anticipate this in fact may be used against you. Though it is made to look like a promissory note, however it may be a systematic legal plot against you with intent to defraud you. Kindly get in touch for further advice on this case
Helpful?
Adv. Amit Agashe
Pune | 200+ Answers
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Dear sir/ madam
stamp and signature is a must.
you cannot take any legal action if they don't sign or stamp.
that document would be useless.
don't put your hard earned money with proper investigation of the company and their claim
stamp and signature is a must.
you cannot take any legal action if they don't sign or stamp.
that document would be useless.
don't put your hard earned money with proper investigation of the company and their claim
Helpful?
Adv. Afreen Rafik
Thane | 25+ Answers
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