Bare Act Search Results

The Bombay Money Lenders Act, 1946 Complete Act

State: Maharashtra

Year: 1946

.....sells goods or other property, whether moveable or immoveable, and includes a wholesale or retail merchant, a commission agent, - a broker, a manufacturer, a contractor, a factory owner, but does not include an artisan or a person who sells his agricultural produce or cattle or buys agricultural produce or cattle, for his use. Explanation."For the purposes of this clause an "artisan" means a person who does not employ more than ten workers in a manufacturing process on any one day of the twelve months immediately preceding. NOTES: (A) Changes made by the new amendment in two of the definitions have created disturbance in business community and especially the money-lenders who were advancing loans to traders. (B) Definition of word LOAN in sub-section 2 has been amended by addition of words WHETHER IN CASH OR KIND AND after the words ADVANCING LOANS. These words appear to have been added to clarify the word loan as to include the advance in kind like grains advanced with condition to return one and half times after harvest. The definition of word LOAN in sub section (9) even prior to the amendment states that the loan meant an advance whether of money or in kind. Thus this.....

KARNATAKA MONEY-LENDERS ACT, 1961 Section 16

Title: Court's power to cancel or suspend a licence

State: Karnataka

Year: 1961

.....(ii) a Court trying a suit to which this Act applies, if satisfied that such money-lender has committed such contravention of any provision of this Act or the rules as would, in its opinion, make him unfit to carry on the business of money-lending,-- (a) may order that all the licences held by such money-lender in the State be cancelled or suspended for such period as it may think fit; and (b) may, if it thinks fit, declare any such money-lender, or if any money-lender is an undivided Hindu family, a company or an unincorporated body, such family, company or body and also any person responsible for the management of the business of money-lending carried on by such family, company or body, to be disqualified from holding any licence in the State for such time as the Court may think fit: Provided that no order or declaration shall be made under this sub-section unless a reasonable opportunity has been given to the person concerned to show cause against the order or declaration proposed to be made. (2) Where a Court convicts a money-lender of an offence under this Act, or makes an order or declaration under clause (a) or (b) of sub-section (1), it shall cause the.....

BOMBAY MONEY-LENDERS ACT, 1946, (Maharashtra) Section 14

Title: Court's power to cancel or suspend a licence

State: Maharashtra

Year: 1946

..... (i) a court trying a suit to which this Act applies, if satisfied that such money-lender has committed such contravention of the provisions of this Act or the rules as would, in its opinion, make him unfit to carry on the business of money-lending- (a) may order that all the licences held by such money-lender in the 1 [State] be cancelled or suspended for such time as it may think fit, and (b) may, if it thinks fit, declare any such money-lender, or if any money-lender is an undivided Hindu family, a2 [3 *company] or an unincorporated body, such family, 2 [3 *company] or body and also any person responsible for the management of the business of money-lending carried on by such family,2 [3 *company] or body, to be disqualified from holding am licence in the1 [State] for such time as the Court may think fit. (2) Where a Court convicts a money-lender of an offence under this Act, or, makes an order or declaration under clause (a) or (b) or sub-section (1) it shall cause the particulars of the conviction, order or declaration, as the case may be, to be endorsed on all the licences held by the money-lender convicted or by any other person affected by the order or declaration.....

Karnataka 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.

Karnataka 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

Karnataka 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.

Karnataka 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.

Karnataka 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.

Karnataka 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

Karnataka 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.