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Need information on money lender status
11-Jun-2023 (In Cheque Bounce Law)
I have advanced Rs.4 lack against cheque to a person with out any interest for one month. He refused to pay money back and when I present a cheque in a bank it bounced with remarks insufficient fund.I filed a case in court under NIA138 which was dismissed by court on the ground under punjab money lender act.as there are about 15 cases are pending in various courts filed by me.Now my question is that whether money advanced against cheque are come under money lender act. As I have given money without interest and I have not demanded any interest from defendent in my case.How I become money lender while I have not claimed any interest?
You are absolutely right there is no such provision in law if a person is giving money without interest he does not it self became money lender you must file a appeal against that order... on the other hand you must file suit for recovery in civil court
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Adv. Jagandeep Singh
Amritsar | 100+ Answers
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Hello
You have filed case under 138 ni act.your case if dismissed you file appeal against that order.in 138 ni act only complainant has to prove legal enforceable debt and liability.if you want to know more about this you are free to call on my mobile number
You have filed case under 138 ni act.your case if dismissed you file appeal against that order.in 138 ni act only complainant has to prove legal enforceable debt and liability.if you want to know more about this you are free to call on my mobile number
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Adv. Deepak Sabharwal
Amritsar | 200+ Answers
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Your case is out of the purview of NI, 138 matter. For cheque bounce matter there should be a bonafide transaction between the parties which in your case is not so. You can still file a recovery suit to recover the money.
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Adv. Satish Mishra
Chandigarh | 100+ Answers
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