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Home Bare Acts Phrase: lenderKarnataka Money-lenders Act, 1961 Section 21
Title: Delivery of Statement of Accounts and Copies Thereof by Money-lender
State: Karnataka
Year: 1961
.....to the debtor or if the debtor so requires, to any person specified in that behalf in the demand, a statement, 1 [either in Kannada or in English], signed by the money-lender or his agent, and containing the relevant particulars specified in sub-section (1). (3) A money-lender shall, on a demand in writing by the debtor, and tender of the prescribed sum of expenses, supply a copy of any document relating to a loan made by him or any security therefor, to the debtor, or if the debtor so requires, to any person specified in that behalf in the demand. 2 [(4). x x x] _______________________________ 1. Substituted by Act 2 of 1987 w.e.f. 16.10.1986. 2. Omitted by Act 14 of 1998 w.e.f. 22.5.1998.
View Complete Act List Judgments citing this sectionKarnataka Money-lenders Act, 1961 Complete Act
Title: Karnataka Money-lenders Act, 1961
State: Karnataka
Year: 1961
..... Section 33 - Inquiry for taking accounts and declaring the amount due Section 34 - Deposit in Court of money due to money-lender Section 35 - When interest to be paid for entire month Section 36 - Money-lenders to exhibit their names over shops Section 37 - Entry of wrong sum in bond, etc., to be an offence Section 38 - Penalty for molestation Section 39 - General provision regarding penalties Section 40 - Offences by Hindu Joint Family, Corporation, etc Section 41 - Certain offences to be cognizable Section 42 - Every officer to be public servant Section 43 - Saving of laws relating to agriculturists' indebtedness Section 44 - Rules Section 45 - Repeal and savings
List Judgments citing this sectionKarnataka Money-lenders Act, 1961 Section 11
Title: [Ommited] Suits by Money-lenders Not Holding Licence
State: Karnataka
Year: 1961
Section 11 - [OMMITED] suits by money-lenders not holding licence 11.1 [x x x] suits by money-lenders not holding licence.-- (1) After the expiry of six months from the date on which this Act comes into force, no Court shall pass a decree in favour of a money-lender in any suit to which this Act applies, filed by a money-lender, unless the Court is satisfied that at the time when the loan or any part thereof to which the suit relates was advanced, 2 [and on the date such suit was filed] the money-lender held a valid licence. 1 [(2) x x x (3) x x x (4) x x x ] (5) Nothing in this section shall affect-- (a) suits in respect of loans advanced by a money-lender before the date on which this Act comes into force; (b) the powers of an official receiver, an administrator or a Court under the provisions of the Mysore Insolvency Act, 1925, or other corresponding law in force in any area of the State, or of a liquidator under the Companies Act, 1956, to realise the property of a money-lender. _______________________________ 1. Omitted by Act 77 of 1976 w.e.f. 27.10.1976. 2. Inserted by Act 77 of 1976 w.e.f. 27.10.1976.
View Complete Act List Judgments citing this sectionKarnataka Money-lenders Act, 1961 Section 20
Title: Duty of Money-lender to Keep Accounts and Furnish Copies
State: Karnataka
Year: 1961
.....discharge every mortgage, restore every pledge, return every note and cancel or reassign every assignment given by the debtor as security for the loan. (3) No money-lender shall receive any payment from a debtor on account of any loan without giving him a duly signed receipt for the payment. (4) No money-lender shall accept from a debtor any article as a pawn, pledge or security for a loan without giving him a signed receipt for the same with its description, estimated value, the amount of loan advanced against it and such other particulars as may be prescribed. _______________________________ 1. Inserted by Act 2 of 1987 w.e.f. 16.10.1986. 2. Substittued by Act 2 of 1987 w.e.f. 16.10.1986.
View Complete Act List Judgments citing this sectionKarnataka Money-lenders Act, 1961 Section 34
Title: Deposit in Court of Money Due to Money-lender
State: Karnataka
Year: 1961
(1) At any time a debtor may tender to a money-lender any sum of money due from him to the money-lender in respect of a loan by way of principal, interest or both. (2) If the money-lender refuses to accept any sum so tendered, the debtor may deposit the said sum in Court to the account of the money-lender. (3) The Court shall thereupon cause written notice of the deposit to be served on the money-lender, and he may, on presenting a petition stating the sum then due in respect of the loan, and his willingness to accept the said sum, receive and appropriate it first towards the interest and the residue if any towards the principal. (4) When the money-lender does not accept the sum, the Court shall appropriate the said sum first towards the interest and the residue if any towards the principal.
View Complete Act List Judgments citing this sectionKarnataka Money-lenders Act, 1961 Preamble 1
Title: Karnataka Money-lenders Act, 1961
State: Karnataka
Year: 1961
Preamble 1 - KARNATAKA MONEY-LENDERS ACT, 1961 THE1[KARNATAKA] MONEY-LENDERS ACT, 1961 [Act, No. 12 of 1962]2 [8th March, 1962] PREAMBLE An Act to regulate the transactions of money-lending in the1[State of Karnataka]. WHEREAS it is expedient to make better provision for the regulation and control of transactions of money-lending in the1[State of Karnataka]; BE it enacted by the1[Karnataka State] Legislature in the Twelfth Year of the Republic of India as follows:-- _______________________________ 1. Adapted by the Karnataka Adaptations of Laws Order, 1973 w.e.f. 1.11.1973 2.First published in the Karnataka Gazette on the Twenty-ninth day of March, 1962
View Complete Act List Judgments citing this sectionKarnataka Money-lenders Act, 1961 Section 5
Title: Money-lenders to Obtain Licence
State: Karnataka
Year: 1961
Section 5 - Money-lenders to obtain licence No person shall carry on the business of money-lending in the State except1[under and] in accordance with the terms and conditions of a licence2[and, after the commencement of the Karnataka Money Lenders (Amendment) Act, 1985, except on payment of security deposit as provided in section 7A]. _______________________________ 1. Inserted by Act 77 of 1976 w.e.f. 27.10.1976. 2. Inserted by Act 41 of 1985 w.e.f. 31.5.1985.
View Complete Act List Judgments citing this sectionKarnataka Money-lenders Act, 1961 Section 36
Title: Money-lenders to Exhibit their Names over Shops
State: Karnataka
Year: 1961
Every money-lender shall always keep exhibited over his shop or place of business, his name with the word 'money-lender' and its equivalent in Kannada.
View Complete Act List Judgments citing this sectionKarnataka Money-lenders Act, 1961 Section 4
Title: Register of Money-lenders
State: Karnataka
Year: 1961
Every Assistant Registrar shall maintain for the area in his jurisdiction a register of money-lenders in such form as may be prescribed.
View Complete Act List Judgments citing this sectionKarnataka Money-lenders Act, 1961 Section 29
Title: Prohibition of Charge for Expenses on Loans by Money-lenders
State: Karnataka
Year: 1961
No money-lender shall receive from a debtor or intending debtor any sum other than reasonable costs of investigating title to the property, costs of stamp, registration of documents and other usual out-of-pocket expenses in cases where an agreement between the parties includes a stipulation that property is to be given as security or by way of mortgage and where both parties have agreed of such costs and reimbursement thereof; or where such costs, charges or expenses are leviable under the provisions of the Transfer of Property Act, 1882, or any other law for the time being in force.
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