PARUL (Lawyer) 17 July 2013

Interest charged by money lenders

Dear Colleagues,

I require to know whether there is a law regarding maximum interest that can be charged by money lenders ?

Whether a money lender can lend money to his known person / friend ?

Parul Thakar

Advocate

PARUL (Lawyer) 20 July 2013

Any Senior or Expert, can I have some of your comments ???

Hemant Agarwal (ha21@rediffmail.com Mumbai : 9820174108) 20 July 2013

Interest can be regulated under "THE USURIOUS LOANS ACT"

If Interest rate is not specified in the contract / agreement, then it is limited to 18% P.A., under the N.I.Act.

Keep Smiling .... Hemant Agarwal

MARU ADVOCATE (simple solutions for criminal legal problems -- yourpunch@gmail.com) 21 July 2013

The moment you say that you are money lender than state MONEY LENDERS ACT will be applicable.

PARUL (Lawyer) 30 July 2013

Will really appreciate if you can give me more links on information on THE USURIOUS LOANS ACT.

Hemant Agarwal (ha21@rediffmail.com Mumbai : 9820174108) 29 August 2013

Kindly check out the following link:

Keep Smiling .... Hemant Agarwal