Vijay (Proprietor) 23 September 2018

Interest rate as per mah money lenders act 2014

Hi Everybody I am Starting New Money Lending Business in Maharashtra State with Valid Licence. My Q is What is the Maximum Rate of Interest I Can Charge to My Debtors ? in the Maharashtra Moneylender Act 2014 sec 31 Says The State Government may, from time to time, by notification in the Official Gazette, fix the maximum rates of interest to be charged by a money-lender in respect of secured loan and unsecured loan. So how we can see the Rate specified in Official Gazette online? Please guide

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Riyaj Shaikh (Managing Partner) 23 September 2018

Hi Sir. This is Riyaz Shaikh, an enterpreuner in Mumbai, having workshop of marine repairs in darukhana. we had worked for a company called pratibha shipping, company was bankrupted in 2012 , all vendors filed complaint against them but owner told me not to file the case as we are reactivate the company again very soon, so I didn't. it's more than six years, can we still file a court case against them. please guide

Raj Kumar Makkad (Adv P & H High Court Chandigarh) 23 September 2018

As the limitation to file the suit for recovery from last confirmation of debt is 3 years so in the given facts, legally you are unable to recover.

Interest rate as per mah money lenders act 2014

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