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Adv Rahul Shinde (Lawyer)     11 October 2015

Money lending license

Complainant having legally money lending license, borrower took Rs 2 lakhs cash and  kept security cheque of Rs 2 Lakhs and time limit was mentioned in promissory note, but after lapse of time  borrower denied to pay , and also his cheque is dishonoured

So shall I mention in complaint and notice that,  on basis of money lending business. Money Lender gave cash of rs 2 lakhs and kept security cheque (which is subject to  138 N.I)



Learning

 1 Replies

Kumaran   14 October 2015

Cheques given as security does NOT attract sec 138 N.I. 

 


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