30 August 2011
sir, cann you plz tel me the authorities to which complaint againt illegal money lending can be lodged. its very urgent and plz guide me under which section complaint is lodged under punjab money lending act?wthr complaint can be made to c.b.i or lokaayukt or public grievance commision?
31 August 2011
There are two act and rules from which guidance can be had.
The Punjab Registration of Money-Lender’s Act, 1938,the Collector is the licensing as well as cancelling authority u/Ss 5&6of this Act.rules framed under it is THE PUNJAB REGISTRATION OF MONEY-LENDERS RULES, 1939. As provided in s 3 effect of non registration simply disables the lenders to realize the debt by process of court but the Act does not make non registration penal as an offence.
BUT OF LATE A LEGISLATION PASSED AND CALLED
THE PUNJAB PROHIBITION OF PRIVATE MONEY LENDING ACT 2007 (ACT VI OF 2007) IS IN FORCE.
SECTION 3 OF THIS ACT LAYS"3. Prohibition of Private Money Lending.- No person, individually or collectively, shall engage himself in private money lending in the Province of the Punjab" AND SECTION 4 MAKES IT PUNISHABLE AS IT READS"4. Punishment.- Any person who contravenes section 3 of this Act shall be punished with imprisonment for a term which may extend to ten years or with fine which may extend to five hundred thousand rupees or with both."
THIS OFFENCE IS NON BAILABLE UNDER SECTION 5 AND COGNIZABLE U/S 6.
HENCE A FIR CAN BE LODGED BEFORE POLICE WHICH IS THE PLACE TO REPORT ANY OFFENCE.