Unsecured loan repayment in cash


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Querist : Anonymous

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Querist : Anonymous (Querist)
24 July 2017 Dear All,

If unsecured loan is taken by way of account payee cheque of Rs. 50,000 and its repayment is done in instalments by way of cash.
What are the consequences ?

RAJA P M (Expert)
24 July 2017 How many Rs as Installments....

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 July 2017 Instalment amount is not fixed. Amount is repaid whenever money received from business.
As unsecured loan is from relative so there is no any such restrictions.

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 July 2017 Can such repayment in cash is allowed, sir ?

RAJA P M (Expert)
24 July 2017 Yes Allowed. But., Does not exceed Rs. 20000 per month


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