Judgment Search Results Home > Cases Phrase: karnataka money lenders act 1961 section 16 court s power to cancel or suspend a licence Page 1 of about 14 results (0.089 seconds)

K.G. Srinivas Chickaballapur Taluk and Another Vs. M/S. Akshaya Financ ...

Court : Karnataka

..... 26, while answering issue no.3, as to the entitlement of the plaintiff for the suit claim it took into consideration the oral arguments advanced by the learned counsel for the defendant and held that, on account of non production of money lenders license, as required under section 11 of the karnataka money lenders act, 1961, and applying principles laid down in the judgment of this court, reported in 2000(5) klj page 166 held that plaintiff is not entitled for suit claim and accordingly dismissed the suit. ..... (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 realize the property of a money-lender. ..... the initial defect, namely non production of licence before trial court cannot be cured before lower appellate court and it ought to have been produced before the trial court and since, there was absolutely bar under section 10 and 11 of the karnataka money lenders act to decree the suit without licence. ..... powers of appellate court- (1) subject to such conditions and limitations as may be prescribed, an appellate court shall have power- (a) xxx (b) xxx (c) xxx (d) xxx (2) subject as aforesaid, the appellate court shall have the same powers and shall perform as nearly as may be the same duties as are conferred and imposed by the code courts of original jurisdiction in respect of suits instituted therein .....

M/S. Prasanna and Company, Bangalore Vs. Prasanna Kumar and Another

Court : Karnataka

Reported in : 2000(5)KarLJ166

..... under the law as operative under section 10 of the karnataka money lenders act, 1961 in the year 1988 vide proviso to section 10 of the act and the legal fiction contained thereunder, he shall be deemed to have a valid licence until orders are received by him on his application for the fresh licence and he will be deemed to have been carrying on the business of money-lending under a valid licence during the succeeding year and till thereceipt of a fresh licence. ..... in this view of the matter, in my opinion, the trial court did not commit any error either on fact or law in dismissing the suit as per the language of section 11 of the karnataka money lenders act, 1961.16. ..... , 19-1-1989 .having been established, in my opinion, the trial court rightly held that there has been non-compliance with the provisions of section 11 of the karnataka money lenders act, 1961. ..... the learned counsel for the appellant contended that the trial court erred in holding that the plaintiff-appellant was not entitled to the decree firstly that the appellant-plaintiff did not have licence under the karnataka money lenders act, 1961 on the date when the suit wasadmittedly filed i.e. .....

V. Satyanarayana Vs. Sandeep Enterprises

Court : Karnataka

Reported in : 2005CriLJ12; ILR2004KAR4505; 2004(7)KarLJ541

..... connection, he referred and relied on section 11 of the karnataka money lenders act, according to which, suit filed by a money lender, who has no valid licence in money lending, would not be decreed by a civil court.16. ..... if the money lending was not with profit motive or, not carried on as a profession, he or she does not become a money lender under the karnataka money lenders act, as held by this court in the case ..... present case, there is no evidence or material on record to say that the respondent/complainant carried/carry on money lending business and consequently he comes within the meaning of the word 'money lender' as defined under the karnataka money lenders act. ..... pronote and argument in that regard do not help the accused much to hold the complainant as 'money lender' under karnataka money lenders act. ..... , if assumed that the cheques were issued by the petitioner/accused in the course of money lending - business, that itself does not attract the provisions contained in karnataka money lenders act. ..... us to the merits of the case.it was vehemently argued for the petitioner/accused that since it is admitted by the respondent/complainant in his evidence that he is a money lender and not having any licence to do money lending business, debt or liability itself was not enforceable under law and as such, the trial court as well as the sessions court committed an error in ignoring said material. ..... to suspend the sentence as the petitioner intends to challenge the pronouncement and .....

Manakchand Motilal Vs. State of Karnataka

Court : Karnataka

Reported in : ILR1991KAR1928; 1992(1)KarLJ1

..... 1961 and persons who are doing business as money lenders having taken licences under the karnataka money lenders act, 1961 have questioned the constitutional validity of the karnataka pawn brokers (amendment) act, 1985 and the karnataka money lenders (amendment) act, 1985 on the ground that the provisions of the said acts are violative of articles 14 and 19 of the constitution of india and they have also questioned the constitutional validity of section 4(2)(c) and section 23(2) of the karnataka pawn brokers act, 1961 as volatile of articles 14 and 19 of the constitution.2. ..... therefore, it appears to us that in the absence of any prohibition in the provisions of the act regarding payment of interest, in view of article 14, the government while making rules for the purposes of the act under section 44 of the money lenders act and section 22 of the pawn brokers act has not only the power but also a duty to provide for payment of interest. ..... the learned counsel distinguished the judgment of the kerala high court on the ground that the provision of section 16a of the kerala money lenders act was held to be unconstitutional for the reason that there was no provision for utilising the amount forfeited to give relief to the affected borrowers and therefore it was regarded as unconstitutional, but in the present case the money forfeited is required to be distributed among the borrowers who are required to be compensated and therefore the provisions .....

Basappa and ors. Vs. Garemane Kamanna

Court : Karnataka

Reported in : ILR1985KAR912; 1985(1)KarLJ207

..... on appreciating the evidence, the trial court came to the conclusion that the plaintiff is a money-lender, as defined in the karnataka money lenders act, 1961 (for short the act') and that he did not have a valid licence on the date of the suit transaction. ..... the said section reads :'suits by money-lenders not holding licence-(1) after the expiry of six months from the date on which this act came into force, no court shall pass a decree in favour of a money-lender in any suit to which this act applied, filed by a money-lender, unless the court is satisfied that the time when the loan or any part thereof to which the suit relates was advance and on the date suit was filed the money-lender held a valid licence. ..... (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 inforce in any area of the state or of aliquidator under the companies act, 1956, to realise the property of a money-lender. .....

Life Insurance Corporation of India Vs. Gurappa Sangappa Katageri and ...

Court : Karnataka

Reported in : [1990]69CompCas436(Kar)

..... findings recorded by the trial court are as follows : (a) that the corporation has become the successor to the united karnataka insurance company, dharwar ; (b) the plaintiff was not required to take a licence under the bombay money lenders act and, therefore, the suit is not barred on that account; (c) that notwithstanding the cancellation of registration, the corporation is entitled to sue for the mortgage money. ..... the learned appellate judge raised the following point for consideration : '(i) whether the money lenders licence was necessary to be obtained by ukic (united karnataka insurance company) under the bombay money lenders act, 1946 (ii) whether there was any controlled business of ukic that could vest in the plaintiff ( ..... srinivasa lyengar appearing for the corporation urged the following contentions : (i) that the bombay money lenders act was not applicable since the original company was an insurance company, which wa not required to obtain licence ; (ii) that though the registration was canceled the company till remained an insurance company to do any business other than insurance business ; and (iii) the amount having been paid to the plaintiff, the deposit of ..... patil that section 5 of the act requires that every money-lender should obtain a licence to carry on the business of money lending. ..... .53 was due to the corporation calculating the interest from june 30, 1961, at 6% and after including notice charges, etc. ..... 233 of 1961 on the file of the second additional munsiff, .....

M/S. Manakchand Motilal and Others Vs. State of Karnataka and Others

Court : Karnataka

Reported in : AIR1992Kant123

..... after having secured licences under the karnataka pawn brokers act, 1961 and persons who are doing business as money lenders having taken licences under the karnataka money lenders act, 1961 have questioned the constitutional validity of the karnataka pawn brokers (amendment) act, 1985 and the karnataka money lenders (amendment) act, 1985 on the ground that the provisions of the said acts are violative of articles 14 and 19 of the constitution of india and they have also questioned the constitutional validity of section 4(2)(c) and section 23 (2) of the karnataka pawn brokers act, 1961 as violative of ..... necessary for the disposal of these cases are these :-- with the object of making better provisions for theregulation and control of transactions of money lending in the state, the legislature enacted the karnataka money lenders act, 1961 ('money lenders act' for short). ..... 'we are in respectful agreement with the view taken by the kerala high court and hold that the quantum of deposit to be made by a money lender or a pawn broker has to be computed on the basis of the actual money invested in the business and not on the basis of aggregate of the amount of loan advanced in cases where amount invested in the business has been utilised to advance loan more ..... 22 of the pawn brokers act has not only the power but also a duty to provide for ..... to concentrate merely on power of the state and the object of the state action in exercising that power is therefore to ignore the true intent of .....

K. Shivalingaiah Vs. B.V. Chandrasekhara Gowda

Court : Karnataka

Reported in : ILR1992KAR1996

..... . the contention of the petitioner is that under the proviso to sub-section (4) of section 6 of the karnataka money lenders act, 1961 (hereinafter referred to as the 'act'), an application for renewal can be made even after the expiry of the period prescribed under the rules and such an application is maintainable provided it is accompanied by a licence fee at double the rate specified in the said sub-section.' 2.2 ..... to produce additional evidence, namely, certified copies of the money lending licences for the year 1979 to 1983 pertaining to the appellant, xerox copy of the certificate issued by the assistant registrar of money lenders, bangalore city, bangalore; certified copies of the money lending licences for the years 1979 and 1982 pertaining to defendant-3 and a certified copy of the certificate issued by the assistant registrar of money lenders, bangalore city, bangalore, to defendant-3. the court passed an order on 21-6-1991 to the following effect:' ..... . seetharama reddy, : [1964]2scr35 has held as follows :'under rule 27 (1), the appellate court has the power to allow additional evidence not only if it requires such evidence 'to enable it to pronounce judgment', but also for 'any other substantial cause' .....

G. Gangappa Vs. H.S. Rajanna

Court : Karnataka

Reported in : ILR1994KAR2036; 1994(2)KarLJ708

..... 85 of 1979 reversed the judgment and decree of the learned munsiff and dismissed the suit holding that under section 10 of the karnataka money lenders act, 1961 (herein after referred to as the act') there was no power in the authority to grant a money lenders licence with retrospective effect and since the appellant did not have a licence on the date of advancing the loan on 22-7-1974 he was not entitled to maintain the suit. ..... in view of their submissions, the following points arise for consideration:-(1) whether there is power in the licensing authority to grant money lenders licence under section 11(2) of the money lenders act without the intervention of the court after filing of the suit? ..... . the money-lender is not entitled under any of the provisions of the act except section 11(2) to approach the registrar for issuing a licence with retrospective effect if no suit filed by him is pending in any court for want of a money lenders licence, on the money lender approaching for a licence as required by court under section 11(2) of the act, the registrar is duty-bound to issue a licence by collecting arrears of fees together with penalty as ordered by the court with retrospective ..... therefore without the intervention of the court requiring the money lender to produce a licence under section 11(2) of the money lenders act, there is no provision in the act under which a money-lender can independently approach the registrar and obtain a money lenders licence with retrospective effect .....

P. Vaikunta Shenoy and Co. Vs. P. Hari Sharma

Court : Supreme Court of India

Reported in : AIR2008SC416; 2008(1)ALLMR(SC)415; 2008(1)AWC432(SC); I(2008)BC263(SC); 2008(1)KarLJ161; 2007(4)KLT985(SC); (2008)3MLJ541(SC); 2007(12)SCALE640

..... the defendant denied the plaintiffs case and advanced the plea that plaintiff was a money-lender and he did not have a licence as required by the karnataka money lenders act, 1961. ..... when we construe the provisions of the karnataka money lenders act we must see the object for which it was made and we have to adopt the purposive construction.11. ..... the aforesaid section 2(10) states that a money-lender is one who 'carries on the business of money lending in the state. ..... learned counsel for the plaintiff-appellant has submitted that the plaintiff was not a money-lender as defined in section 2(10) of the karnataka money lenders act. ..... it may be mentioned that the purpose of the act was to prevent the malpractice of oppression by money-lenders to take advantage of peoples poverty.8. ..... from this angle the appellant could not be said to be a money-lender as he was not really doing the business of money lending in the strict sense but was only advancing loans to secure the regular supply of areca nuts.14. ..... this appeal has been filed against the impugned judgment of the karnataka high court dated 25.03.2000 in r.f.a. no. ..... in view of the above this appeal is allowed, impugned judgment of the high court is set aside and the judgment of the trial court is restored. ..... as observed by this court in new india sugar mills v. ..... the trial court decreed the suit of the plaintiff but the said decree was set aside by the high court. ..... it was held by this court in u.p. .....