9911796707
TMI Blog2013 (4) TMI 997X X X X Extracts X X X X X X X X Extracts X X X X ..... tion 138 of the Negotiable Instruments Act, 1881(the Act) were dismissed by the learned Metropolitan Magistrate(MM) primarily on the ground that the Petitioner was in the business of advancing loan; he did not possess any money lending licence and thus the complaint was barred under Section 3 of the Punjab Registration of Money-lender's Act, 1938 (the Act of 1938). The learned MM opined that although the cheques were issued in discharge of liability or debt, yet in view of the provisions of the Act of 1938, the debts were legally not recoverable. Thus, the learned M.M. dismissed the complaints and acquitted the Respondent. 4. In the 23 complaint cases, various cheques have been issued which are extracted hereunder: Crl.L.P. No. Cheque No ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 14.11.2008 7,500/- 1,00,000/- 1,00,000/- 506/2011 002424 207677 207696 25.09.2008 24.10.2008 28.12.2008 40,000/- 16,500/- 10,000/- 507/2011 000018 000026 000027 000037 28.10.2008 11.10.2008 20.10.2008 20.11.2008 7,500/- 7,500/- 7,500/- 7,500/- 508/2011 000010 000012 000014 18.09.2008 25.10.2008 26.10.2008 18,000/- 11,000/- 14,000/- 509/2011 002418 002422 002420 15.09.2008 23.09.2008 19.09.2008 12,000/- 40,000/- 24,000/- 510/2011 007591 007593 007594 20.09.2008 03.10.2008 02.10.2008 10,000/- 40,000/- 40,500/- 511/2011 007586 007587 007588 28.09.2008 09.09.2008 01.10.2008 30,000/- 42,000/- 30,000/- 512/2011 000019 000021 000023 30.10.2008 03.11.2008 08.10.2008 30,000/- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t or application shall not be finally disposed of until the application of the money-lender for registration and grant of license pending before the Collector is finally disposed of." 6. Thus, Section 3 of the Act of 1938 starts with a non-obstante clause and makes the filing of any Suit or any Application for recovery of loan or execution of a decree relating to a loan by a money lender to be not maintainable unless the money lender is registered under the Act and possessed a licence for the same. 7. The loan as defined in Section 2(8) of the Act of 1938 specifically excludes an advance made on the basis of a negotiable instrument as defined in the Negotiable Instruments Act, 1881, other than a promissory note. The instant cases relate t ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
