DEMAND PROMISSORY NOTE BY PUBLIC LIMITED COMPANY

New Delhi………..20………

Rs ……………

On Demand we M/s XY Co. Ltd ………………..promise to pay………………..Bank, ……………….or order the sum of Rupees…………with interest on such sum at the rate of ……………….per cent per annum with monthly rests for value received.

The common seal of M/s XY Co. Ltd was hereunto affixed pursuant to the resolution passed at the meeting of the Board of Directors held on………………..in the presence of

 Seal

……………………..Director

                                                                                                            …………………….Company Secretary