THE USURIOUS LOANS ACT, 1918 [Act, No.10 of 1918]1 [AS ON 1957] [ 22nd March, 1918] PREAMBLE WHEREAS it is expedient to give additional powers to Court to deal in certain cases with usurious loans of money or in kind ; It is hereby enacted as follows : - ________________________ 1. It has been amended in the U.P.by U .P.Act 23 of 1934, in the C.P.by C .P.Act 11 of 1934 , in Madras by Mad.Act 8 of 1937, and in East Punjab by E.P.Act 4 of 1948 .
View Complete Act List Judgments citing this section(1) This Act may be called the Usurious Loans Act, 1918. (2) It extends to the whole of India except{Subs.By the Adaptation of Laws (No.3) Order, 1956 , for "Part B States".} [the territories which , immediately before the 1st November , 1956 , were comprised in Part B States] {The words "including British Baluchistan" omitted by the A.O.1948.} (3) The State Government may , by notification in the Official Gazette , direct that it shall not apply to any area , class of persons , or class of transactions which it may specify in its notification.
View Complete Act List Judgments citing this sectionIn this Act , unless there is anything repugnant in this subject or context,-- "Interest" means rate of interest and includes the return to be made over and above what was actually lent, whether the same is charged or sought to be recovered specifically by way of interest or otherwise "Loan" means a loan whether of money or in kind and includes any transaction which is, in the opinion of the Court in substance a loan. " Suit to which this Act applies" means any suit (a) for the recovery of a loan made after the commencement of this Act; or (b) for the commencement of any security taken or any agreement , whether by way of settlement of account or otherwise , made, after the commencement of this Act, in respect of any loan made either before or after the commencement of this Act; {Ins. By Act 28 of 1926 , s.2} [or (c) for the redemption of any security given after the commencement of this Act in respect of any loan made either before or after the commencement of this Act]
View Complete Act List Judgments citing this section.....This section shall apply to any suit, whatever its form may be, if such suit is substantially one for the recovery of a loan or for the enforcement of any agreement or security in respect of a loan {Ins.by Act 28 of 1926, s, 3.}[or for the redemption of any such security]. (4) Nothing in this section shall affect the rights of any transferee for value who satisfies the Court that the transfer to him was bona fide, and that he had at the time of such transfer no notice of any fact which would have entitled the debtor as against the lender to relief under this section. For the purposes of this sub-section, the word " notice " shall have the same meaning as is ascribed to it in section 4 of the Transfer of Property Act, 1882. (5) Nothing in this section shall be construed as derogating from the existing powers or jurisdiction of any Court.
View Complete Act List Judgments citing this sectionOn any application relating to the admission or amount of a proof of a loan in any insolvency proceedings, the Court may exercise the like powers as may be exercised under section 3 by a Court in a Suit to which this Act applies.
View Complete Act List Judgments citing this sectionTHE COTTON CLOTH ACT, 1918 [Act, No. 23 of 1918] [AS ON 1959] [26th September, 1918] PREAMBLE An Act to take powers to provide for the cheap supply of cotton cloth to the poorer classes of the community. WHEREAS it is expedient to take powers for the purpose of encouraging or maintaining the supply, at reasonable rates, to the poorer classes of the community, of cotton cloth manufactured in this country; It is hereby enacted as follows:
View Complete Act List Judgments citing this sectionThis Act may be called the Cotton Cloth Act.1918. {added by the A.O.1950}[It extends to the whole of India except {Substituted by the Adaptation of Laws (No.3) Order, 1956 for " Part B States ".}[the territories which, immediately before the 1st November, 1956, were comprised in Part B States ]]
View Complete Act List Judgments citing this sectionIn this Act, unless there is anything repugnant in the subject or context, (a) "Controller" means a Controller appointed under this Act; (b) "cotton cloth " means cotton cloth manufactured in this country; and (c) "standard cloth " means any kind of cotton cloth which a Controller may, from time to time, declare to be standard cloth.
View Complete Act List Judgments citing this sectionThe { The words " G. G. in C." successively amended by the A.O.1937 and the A.O.1950 to read as above.} [State Government] may by notification{ For a notification issued by the G. G.in C. under this section, see Gazette of India 1918, Part I, p.1558.} in the Official Gazette, appoint one or more persons as {Substituted by the A.O.1937 for " he ".}[it] may think fit to be Controllers for the purposes of this Act, and shall specify in any such notification the area in which any Controller so appointed shall exercise his powers.
View Complete Act List Judgments citing this section.....Government ] ) make general or special orders regulating or giving directions within the area in which he is empowered, with respect to the manufacture, transport, distribution and sale or purchase of, or other dealings in, cotton cloth. (2) Without prejudice to the generality of the foregoing power, orders may be made by a Controller - (a) declaring and defining the classes of standard cloth; (b) prescribing distinctive indications which shall be woven into, impressed or otherwise displayed upon, different classes or standard cloth; (c) requiring any person, who ordinarily manufactures cotton cloth, to manufacture, or provide for the manufacture of, standard cloth in such quantity, of such quality and by such date as the Controller may direct; and (d) fixing the prices to be paid to the manufacturer for standard cloth or for any particular class of standard cloth, and providing for the payment thereof on delivery: Provided that in fixing prices the Controller shall have regard to the cost of production and to the allowance of a reasonable profit, without necessarily taking into consideration the market price, and if the Controller is satisfied that the.....
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