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138 N.I.Act

(Querist) 12 December 2008 This query is : Resolved 
Hi all,
I need a case law regarding that, mere pendency of one or two cases u/sec 138 of N.I Act filed by complainant he cannot be treated as a Professional Money lender. (I am a complainant side advocate) Please its urgent.
legaleagle (Expert) 12 December 2008
well there is not as such any law on it.bcoz it does not matter what a complaint is doing... the only thing which matter are the igned cheques and a memo returned.. but if u want detail kindly contact me or priv. message me
J K Agrawal (Expert) 14 December 2008
There are some citations by Rajasthan High Court. If you require pl email to me or i will post it by searching again.
V.G.Rao Advocate (Querist) 16 December 2008
Thanx Mr.J.K.Agrawal, I need the aforesaid case laws desparately, if u provide me on my below mentioned E-mail ID I will be thank full to you.

My E-mail Id Is guruadvocate@yahoo.com

or

guruattorney@rediff.com

Neeraj Arora (9897136755) (Expert) 19 December 2008
Well what i have remember there is also a citation of SC. If you have time, I will Send you very soon on your ID.
V.G.Rao Advocate (Querist) 19 December 2008
Thanx Mr.Neeraj Aroraji, I have to submit the above case law by 23-12-2008, If possible kindly send me SC judgment on my ID on or before 22-12-2008, waiting eagerly once again I thank u.
V.G.Rao Advocate (Querist) 21 December 2008
V.G.Rao Advocate (Querist) 21 December 2008
Thanx Mr.Neeraj Aroraji, I have to submit the above case law by 23-12-2008, If possible kindly send me SC judgment on my ID on or before 22-12-2008, waiting eagerly once again I thank u.
KANDE VENKATESH GUPTA (Expert) 23 December 2008
Dear V.G.Rao Garu,
A peraon merely because give loans to his friends and relatives on occassions and filing cases either for recovery of money or u/s 138 of the N.I.Act can not be termed as "Professional Money Lender" within the meaning of the Act. If his business is lending money, then only he requires money lending license. Your client cannot be termed as Money Lender much less Professional Money Lender. Hence, he can validly launch criminal proceedings and the accused is liable for conviction. You can refer the Judgment of Andhra Pradesh High Court reported in 2004(4) Crimes 295 or 2004(1) Andhra Law Times (Crl) 390, between Ratakonda Raghu Vs. Kollashivaram Prasad.

This is K.Venkatesh Gupta, Advocate from Hyderabad. If you dont get the copy of the Judgment in the relevant law journals, I will send the same either by courier or on net, on your request. My mobile Number is: 9885808021.


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