negotiable instrument act 1881

Querist : Anonymous (Querist) 12 August 2010 This query is : Resolved
sir,
one person has filed about 50further criminal cases under 138 niact 1881 against various persons tollalling around 90 lakhs.he has stated in his complaint he has lent as friendly loan @2%p.m. he also stated that he given without maintaining any books.and given in cash .he does nt have money lending licence.does his debt covered under legally enforcable debt??? any judgement on this subject?? furtherIN HIS Cross examination he has admitted that he has lent money without money lending licence andhe is money lender. now the matter is adjourned for stATEMENT OF ACCUSED.I M VERY POOR PERSON AND MY LAWYRE ASSURED ME THAT we have good chances of winning the case as he has admitted as money lender and he dont have money lending licence.and we have judgement in our favour anil versus purshootam of bombay high courtand if trial court wont appreciate it then we move 2 session and high court after order but in appeal we have 2 deposit fine and my financial condition wont allow me this.nw sumbody suggested me 2 go 2 highcourt under482crpc for quashing the complaint as he has lent money without licence and he is amoney lender .so debt is not legally enforceable. nw plz suggest me what 2 do/??.m feeling like dying----- -----

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adv. rajeev ( rajoo ) (Expert) 13 August 2010
Don't worry you have got good case. Complaint lent a money without money lending license and more over he has stated that he is taking 2% interest p.m. When a person lends a money on interest he is bound to take a money lending license.

s.subramanian (Expert) 13 August 2010
yes. i concur. do not worry. you shall succeed.

DEFENSE ADVOCATE.-firmaction@g (Expert) 13 August 2010
There are opposite HC judgments also in this matter.

Though the money lender has no license , he can be punished under relevant law.

It can not absolve the debtor for the liability which is otherwise not illegal.

O. Mahalakshmi (Expert) 13 August 2010
Licence is not important for money lending business. So you may not get the case in your favour. Try to get Supreme Court case law in your favor.

ad. creaminall (Expert) 13 August 2010
apart from money lending license there many other facts can also help you for defense. but without the details of complaint and evidence i am unable to help you. otherwise i agree with mr. rajeev

DEFENSE ADVOCATE.-firmaction@g (Expert) 19 August 2010
Students are filing annonymus querries and many times same querry again and again by chaning some minor details. These qurries are not related to real life.

So experts please while replying understand that these querries are for mental excercise only.

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