Loan without interest is money lending

mahesh (Querist) 24 May 2018 This query is : Resolved
Is cheque bounce legal

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Ms.Usha Kapoor (Expert) 25 May 2018
There is nothing illegal about the draft and your money lending. Please obtain a license under Money lending Act./

Sudhir Kumar, Advocate (Expert) 25 May 2018
do you have money lender license.

Guest (Expert) 25 May 2018
Yes, it is money lending and is illegal, if you don't have a valid money lender's license.

R.Ramachandran (Expert) 25 May 2018
You raised the same query at http://www.lawyersclubindia.com/experts/Loan-without-interest-is-money-lending-681716.asp
and got some answers.
If you are not satisfied with the answers, then continue in the same thread, instead of opening a new thread for the same query.
I know for certain that you have some more facts, which you are not revealing.

Ms.Usha Kapoor (Expert) 26 May 2018
Unless you obtain license under Money lending Act your Money Lending Business is going to be illegal.

Dr J C Vashista (Expert) 27 May 2018
If you are not satisfied with FREE advise of experts you should have opted to consult a local prudent lawyer but repeating same story time and again is absurd, ridiculous and stupidity.

mahesh (Querist) 27 May 2018
Mr vashishta you could say any wrong words whatever you want to

Sudhir Kumar, Advocate (Expert) 27 May 2018
Mr Vashishta rightly pointed out. You opened one thread got some advise which was not suiting to your ears. You opened another same thing happened.

So you can lay a lawyer and get his advise and see if you could get different views.

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