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Harsh (None)     24 January 2019

Is taking money on interest from non licensed person crime

Respected Sir,

Mr L , The lender on Money has Lended Money to Mr B, The borrower @ 25 %  to 30 % Per Annum.

The Dealings were carried out Many times since last 4-5 years, all throgh Banking system only. The interest as Well as the principal Amoiunt is paid through Bank Only each Time.

Mr L is not having Licence of Lend Money and therefore an Illegal Business of MLending Money. 

But, Is the activivity of Mr B (Taking Loan from Mr L) who has Taken Loan will be counted illegal and booked by the Authorities.

Thank You



 1 Replies

sunil kumar Singh   24 January 2019

No,He is not done illegal ,why booked, he pay,it's

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