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Harassment by ilegal money lender what can I do.
20-Dec-2023 (In Criminal Law)
I borrowed sum of 40000INR from a ilegal money lender for a month and as a mortgage he took my iphone 6s plus, he gave me money after deducting 8% intrest per month and at the end of th month when i was not abe to pay the money back he charged intrest and penlty both and asks for 50400INR of total money ,he sold my phone and recovered 28000INR and i paid him 9500 INR , bu still he is demanding more money and harrising me. please help me
Dear sir,
Lending money on interest without having a license is a crime. The moneylending act requires that a license be taken by the petson who is involved in the said business. If such license is not taken and money is given as loan then the same constitutes a criminal offence.
You should file a police complaint.
Lending money on interest without having a license is a crime. The moneylending act requires that a license be taken by the petson who is involved in the said business. If such license is not taken and money is given as loan then the same constitutes a criminal offence.
You should file a police complaint.
Helpful?
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Adv. Mauleen Marfatia
Ahmedabad | 100+ Answers
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You can go to police and file complaint against him about whole incident and show them proof if any.
It is important that you have already paid him Rs. 37500. now only 2500 is left pay him that amount if possible create any proof of that, you had already paid him 8% interest so no more interest you have to pay. If in case time has over than you have to pay on 2500 only.
It is important that you have already paid him Rs. 37500. now only 2500 is left pay him that amount if possible create any proof of that, you had already paid him 8% interest so no more interest you have to pay. If in case time has over than you have to pay on 2500 only.
Helpful?
48+
48+
Adv. Ashwani Kumar Sharma
Delhi | 25+ Answers
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