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