Dated: ______________

To,
(Please fill the Company name)
(Please fill the branch address)
Having its registered office at:
________________________,
________________________,
New Delhi- 110001
Sir,
1)

2)

3)

4)
5)

6)

7)

8)

9)

I, (Please fill the name of the employee) S/O (Pl. fill the
parentage) R/O (Pl. fill the address of the employee)
bearing employee code (pl. fill the employee code)
presently posted as (pl. fill the designation of the
employee) at (pl. fill the address of the branch).
In order to meet certain exigencies I have taken a loan of
Rs.____________ (pl. fill the amount in words and figures
advanced to the employee) from the company in the
presence of Sh./ Ms. (pl. fill the name of the guarantor)
I shall repay the above mentioned amount in _________
installments (pl. fill the tenure of repayment) with each
installment of Rs. __________ (pl. fill the amount of
installment). For the said repayment I authorize company
to deduct the EMI directly from my monthly salary.
The above mentioned installment amount shall be
deducted from my salary.
In case, I have to leave the employment of the company
before repayment of the advance amount, I shall repay
the outstanding amount plus an interest @12% p.a. on the
total amount of advance as on the date of separation from
the services of the company.
If I fail to repay the outstanding amount in lumpsum at the
time of separation from the company the company shall
be entitled to initiate appropriate legal proceedings
against me and I shall not raise any dispute regarding the
availment of advance amount from the company.
In case, I have to leave the employment of the company
within six months of post settlement of advance, I shall
make an additional payment of interest @12% p.a. on the
total amount of advance, on the date of separation from
the services of the company.
The above mentioned conditions shall remain in force
even in the case wherein, I am transferred to any other
company within Cosmic Group of companies, and I shall
continue to be bound to repay and comply with all the
conditions laid above.
The above statement and undertaking has been given by
me on my free will and without any force, undue influence
and coercion.

Witnesses:

(Signature of the employee)

1)
2)

(Signature of the reporting officer)

Statement of the Guarantor:

I, (pl. fill the name of the guarantor) S/O (Pl. fill the parentage)
R/O (Pl. fill the address of the guarantor) acknowledge that
Mr./Ms. ( pl. fill the name of the employee) bearing employee
code (pl. fill the employee code of the employee) has taken a
loan for a sum of Rs._____________ (pl. fill the amount advanced
in words and figures) from the company.
I undertake that if Mr./ Ms. (fill the name of the employee) fails to
repay

the

amount

within

the

stipulated

time

or

agreed

repayment schedule I shall be personally liable to the repayment

of the outstanding amount.

(Signature of the guarantor)

Witnesses:
1)
2)

DEMAND PROMISSORY NOTE

PLACE:
DATED:
Rs.
On Demand, We, (Pl. fill the name of the employee) S/O (Pl. fill the
parentage) R/O (Pl. fill the address of the employee) and (Pl. fill the
name of the guarantor) S/O (Pl. fill the parentage of the guarantor),
R/O (Pl. fill the address of guarantor) jointly and severally promise to
pay to (Pl. fill the company name). having its registered office at
___________________________, New Delhi- 01 or order at its branch at
(Pl. fill the address of the branch office) a sum of Rs. _______________
(Pl. fill the amount advanced in words and figures) from the date
hereof.
Applicant Name (Pl. fill the name of the employee)
Signature (Pl. take the signature across one Rupee Revenue Stamp)

Guarantor (Pl. fill the name of the guarantor)

Signature (Pl. take the signature of the guarantor on one Rupee
Revenue Stamp)