The usurious loan act,1918
Ricky
(Querist) 27 June 2012
This query is : Resolved
The abovementioned act is applicable to the North-East State of India or not ? If it is ? than how to ensure its applicability ?
Sankaranarayanan
(Expert) 27 June 2012
1. For Statement of Objects and Reasons, see Gaz. of Ind., 1917, Pt. V, p. 86 for Report of Select Committee, see Gaz. Of Ind. , 1918, Pt. v,p. 47.
This Act has been declared to be in force in Panth Piploda by the Panth Piploda Laws Regulation, 1928 (1 of 1929),S.2.
The Act has been extended to—
(A) the transferred territories in—
(i) Andhra Pradesh by A.R.Act 24 of 1961;
(ii) Tamil Nadu by T.N. Act 23 of 1960;-
(B) the States merged in the State of—
(i) Bombay by Bom. Act 4 of 1950;
(ii) Madhya Pradesh by M.P. Act 12 of 1950;
(iii) Madras by Mad. Act 35 of 1949;
(C) the Union territory of Pondicherry by Act 26 of 1968, S. 3 ( 1-9-1970 ).
The Act as in force in Mahakoshal region immediately before the appointed day, was extended as from the appointed day, to be in force in all other regions of Madhya Pradesh by M.P. Act 23 of 1958, S. 3and Sen., Part A, Item 17.
The Act as in force in Punjab was extended to the Scheduled Areas of Sahal and Spiti by Punjab Regn. 1 of 1962, S. 3 and to Pepsu area by Punj. Act 18 of 1962 ( 30-12-1960 ).
The Act was extended to the Union territory of Himachal Pradesh by H.P. A.L.O., 1948.
For non-application of the Act to certain loan transactions, see—
A.P. Gaz., 15-6-1989 , Pt. I, p. 516 (No. 24).
Ker. Gaz., 15-1 -1991, Pt. I, S. IV, p. 1, G. 2005 (No. 3).
Mah. G. Gaz., 14-12-1989 , Pt. 4-A, p. 1519.
Ori. Gaz., 5-9-1990 , Ext., P. 1 (No. 1191).
T.N. G. Gaz., 11-5-1988 , Pt. II, S. 2, p. 346.
Tri. Gaz., 26-7-1990 , Pt. I, Ext., p. 1 (No. 110).
ACT HOW AFFECTED BY SUBSEQUENT LEGISLATION
—Amended by Act 28 of 1926; 3 A.L.O., 1956.
—Adapted by A.O., 1937; A.C.A.O., 1948; 3 A.L.O., 1956.
—Amended in its application to—
(a) Andhra Pradesh by A.P. Act 24 of 1961.
(b) Himachal Pradesh by H.P. Act 3 of 1970.
(c) Madhya Pradesh by C.P. Act 11 of 1934; M.P. Act 23 of 1958.
(d) Punjab by Punj. Acts 7 of 1934; 12 of 1940; E.P. Act 4 of 1948.
(e) Tamil Nadu by T.N. Act 8 of 1937.
(f) Uttar Pradesh by U.P. Act 23 of 1934.
—Extended in Andhra Pradesh by A.P. Act 24 of 1961.
—Extended to Himachal Pradesh by H.P. A.L.O., 1948.
—Extended in Bombay (Now Maharashtra and Gujarat) by Bom. Act 4 of 1950.
—Extended in Madhya Pradesh by M.P. Acts 12 of 1950; 23 of 1958.
—Extended in Punjab by Punj. Regn. 1 of 1962; Punj. Act 18 of 1962.
—Extended to Pondicherry by Act 16 of 1968.
—Extended in Tamil Nadu by T.N. Acts 35 of 1949; 23 of 1960.
—Repealed in Bellary district by Mys. Act 14 of 1955.
—Repealed in U.P. by U.P. Act 29 of 1976.
An Act to give additional powers to Courts to deal in certain cases with usurious loans of money or in kind.
WHEREAS it is expedient to give additional powers to Courts to deal in certain cases with usurious loans of money or in kind:
Shonee Kapoor
(Expert) 29 June 2012
Your query has been elaborately discussed by Ld. Brother.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
