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The Promissory Note Demand Letter is a critical document in Indian debt recovery processes, used when a creditor seeks to collect payment on a promissory note that has either matured or defaulted. This document is essential in establishing a formal record of payment demand and is often required before initiating legal proceedings under Indian law. It should be used when informal attempts to collect payment have been unsuccessful or when immediate payment is required due to default or maturity of the note. The letter must comply with the Negotiable Instruments Act, 1881, and related Indian legislation, making it a legally significant document in the debt recovery process. It typically includes details of the original promissory note, outstanding amount, interest calculations, payment deadline, and potential legal consequences of non-payment. The document serves both as a final warning to the debtor and as evidence in potential legal proceedings.

1. Date and Place: Current date and location of issuance of the demand letter

2. Recipient Details: Full name and address of the promissory note maker/debtor

3. Reference to Original Note: Details of the original promissory note including date, amount, and parties

4. Outstanding Amount: Clear statement of the total amount due, including any interest and charges

5. Demand Statement: Formal demand for payment, citing the note's on-demand nature

6. Payment Instructions: Specific details about how and where payment should be made

7. Payment Deadline: Clear statement of when payment must be received

8. Legal Consequences: Statement of legal actions that may be taken if payment is not received

9. Closing and Signature: Formal closing, name and signature of the note holder or authorized representative