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PRERNA SHARMA (JOB)     24 July 2018

Lending money

A KNOWN PERSON IS ASKING FOR A CASH LOAN OF RS 10 LACS AT AN INTEREST RATE OF 12% PER ANNUM INTEREST AND WOULD PROVIDE A SECURITY CHEQUE AGAINST IT. IS IT LEGAL TO ADVANCE MONEY AS SUCH ON INTEREST AND IN CASH AGAINST A SECURITY CHEQUE?


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 4 Replies

Siddharth Jain

Siddharth Jain   25 July 2018

its legal to charge interest from people, if you have a money lender licence. without it, you cannot charge any interest.
PRERNA SHARMA

PRERNA SHARMA (JOB)     27 July 2018

Sir can you give some examples or laws or case laws....
Siddharth Jain

Siddharth Jain   27 July 2018

You can contact me at isidjain1@gmail.com
PRERNA SHARMA

PRERNA SHARMA (JOB)     27 July 2018

If we could have a conversation here it would be better....as it is a knowledge sharing platform... Many people can get knowledge if people can interact here only....🙂

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