Ni act- money lending license

If Handloan in shape Cash is shown in petition by complainant then what main point defence Lawyer can raise?

Dear Anil,

You cannot file any case against the co., restraining it from doing unauthroised money lending.  You have to inform the same to the RBI, before that please verify the articles of association /memordandum of association of the co.,

Dear Ankit,

To advise you properly it needs the copy of the complaint if compalint is filed.

RBI is concerned with Non Banking Finance Companies. In Maharashtra, the licensing authority for granting money lending licence under the Bombay Money Lending Act, 1946, is the Registrar of Cooperative Societies. See this document also.

Cash Transations are not be covered under Handloan(NI 138). Please give me copy of any judgement regarding this.

Thanks

Ankit nice question to cross examine the complainant.  Thanks,

Dear Sir, Complainant has admitted in his cross that he has lent Handloan to 4 or 5 other people also beside me. Can we prove his as Money lender without valid Money lending  License

I have seen his bank statement and balance was only Rs 4000/-. I have asked my chartered accoutant , and he is saying Cashloan above rs 20,000 is not allowed?

Get a certified copy of his cross from the court and complain to the Registrar of Coop Societies. He can be prosecuted, if the Dy.Registrar is not corrupt.

Dear Mr Agarwal, What impact it will make in defence of NI138 if i take certified copy of cross from court and complain to the Registrar of Coop Societies? 

Dear Sir,

If DR takes cognizance and files a criminal complaint against the money lender, who has obviously not taken money lending licence, the 138 case is likely to be dismissed. Please read this judgement of Bombay High Court which clearly says that no money lender can do the  business of money lending without a valid licence. I hope you have engaged a lawyer who would be the best person to advise you in this matter.

There is no harm in reading this judgement also.

Dear Sir,

If any such judgement is available under Punjab Money Lending Act,please forward me.

These are not from Punjab & Haryana High Court. Yet, useful. Endless definitions - loan to a friend, friendly loan, out of affinity blah, blah and blah, not a habitual money lender.

Dear Rajeev Ji, The complainant has admitted in cross that beside me he has lent loan to 4 or 5 other person also. Also he has admitted that he does not remember their names .More over he has not mentioned that he has lent me Freindly loan without Interest in demand notice or in petition. How we can prove hi Money Lender under Punjab Money Lending ACT. He has admitted that rs 1,00,000/- he has given me in the shape of Cash.

Dear Mr Agarwal, I am facing NI 138 case in trial court. I am asking for judgement in defence of my case so that i can prove Complainant as Illegal Money Lender under punjab Money Lending ACT