← Back to Directory

The Bombay Money Lenders Act, 1946

The Bombay Money Lenders Act, 1946

Raw JSON API

Sections

1. Short title, extent and commencement.

Section 1

2. Definitions.

Section 2

3. Appointment of Registrar General, Registrars and Assistant Registrars.

Section 3

4. Register of Money-lenders.

Section 4

5. Money lender not to carry on business of money-lending except for area under licence and except in accordance with terms of licence.

Section 5

6. Application for licence.

Section 6

8. Refusal of issue of licence.

Section 8

9. Term of licence.

Section 9

9C. Issue of copies of documents on payment of fees.

Section 9C

10. Stay of suits by money-lenders not holding licence.

Section 10

11. Entry in register and grant of licence to a money-lender directed to obtain licence under section 10.

Section 10

12. Application for cancellation of licence.

Section 12

13. Registrar General, Registrar and Assistant Registrar to have powers of Civil Court.

Section 13

14. Court's power to cancel or suspend a licence.

Section 14

15. No compensation for suspension or cancellation of licence.

Section 15

16. Persons debarred from doing business during period of suspension or cancellation of licence.

Section 16

17. Person whose licence is suspended or cancelled not to apply without giving particulars of endorsement or of disqualification.

Section 17

18. Duty of money-lender to keep accounts, and furnish copies.

Section 18

19. Delivery of statements of accounts and copies thereof by money-lender.

Section 19

20. Debtor not bound to admit correctness of accounts.

Section 20

21. Procedure of Court in suit regarding loans.

Section 21

22. Provisions of certain sections not to apply to loans made by [* * [company] or unincorporated body exempted by Government.

Section 22

23. Power of Court to limit interest recoverable in certain cases.

Section 23

24. Power of Court to direct payment of decretal amount by instalments.

Section 24

25. Limitation of rates of interest.

Section 25

26. Prohibition of charge for expenses on loans by money-lenders.

Section 26

27. Notice and information to be given on assignment of loans.

Section 27

28. Application of Act as respects assignees.

Section 28

29. Reopening of transactions.

Section 29

30. Inquiry for taking accounts and declaring the amount due.

Section 30

31. Deposit in Court of money due to money-lender.

Section 31

32. Entry of wrong sum in bond, etc. to be an offence.

Section 32

33. Penalty for molestation.

Section 33

34. General provision regarding penalties.

Section 34

35. Offences by corporations, etc.

Section 35

35C. Compounding of certain offences.

Section 35C

36. Arrest and imprisonment in execution of decree for money, against agricultural debtors, abolished.

Section 36

37. Every officer to be public servant.

Section 37

38. Provisions of Bombay [XXVIII of 1947] saved.

Section 38

39. Rules.

Section 39