The Maharashtra Money-Lending (Regulation) Act, 2014.
State Act of Maharashtra · Act 8 of 201457 provisions
The enactment
| Long title | An Act to regulate the transactions of money-lending in the State of Maharashtra. |
|---|---|
| Type | Act |
| Citation | Act 8 of 2014 |
| Year | 2014 |
| Jurisdiction | State of Maharashtra |
| Ministry | Govt of Maharashtra |
| Status | In force as published by the source |
| Provisions published | 57 |
Full text, provision by provision
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- Section 1 Short title, extent and commencement.
- Section 2 Definitions.
- Section 3 Appointment of Registrar General and other officers to assist him.
- Section 4 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 Application for licence.
- Section 6 Grant of licence and entry in register.
- Section 7 Register of money lenders.
- Section 8 Refusal of issue of licence.
- Section 9 Revisionary powers of Registrar General.
- Section 10 Term of licence.
- Section 11 District Registrar’s power to cancel licence.
- Section 12 Levy of inspection fee.
- Section 13 Suits by money-lenders not holding licence.
- Section 14 Application for cancellation of licence.
- Section 15 Registrar General and his subordinates to have powers of Civil Court.
- Section 16 Power of authorized officer to require production of records or documents.
- Section 17 Disposal of property pledged with money-lender carrying on business of money-lending without valid licence.
- Section 18 Return of immovable property acquired in course of money-lending.
- Section 19 Court’s power to cancel or suspend licence.
- Section 20 No compensation for suspension or cancellation of licence.
- Section 21 Persons debarred from doing money-lending during period of suspension or cancellation of licence.
- Section 22 Person whose licence is suspended or cancelled not to apply without giving particulars of endorsement or of disqualification.
- Section 23 Promissory note, Bond, etc., to be factual.
- Section 24 Duty of money-lender to keep accounts and furnish copies.
- Section 25 Delivery of statements of accounts and copies thereof by money-lenders.
- Section 26 Fees for certain statements supplied to debtors and Assistant Registrar.
- Section 27 Debtor not bound to admit correctness of accounts.
- Section 28 Procedure of Court in suit regarding loans.
- Section 29 Power of Court to limit interest recoverable in certain cases.
- Section 30 Power of Court to direct payment of decretal amount by installment.
- Section 31 Limitation on rates of interest.
- Section 32 Prohibition of charge for expenses on loans by money-lenders.
- Section 33 Assignment of loans.
- Section 34 Application of Act as to assignees.
- Section 35 Re-opening of transactions.
- Section 36 Inquiry for taking accounts and declaring amount due.
- Section 37 Deposit in Court of money due to money-lenders.
- Section 38 Calculation of interest.
- Section 39 Penalty for doing money-lending without valid licence.
- Section 40 Penalty for making false statement.
- Section 41 Obtaining licence under fictitious name, carrying on money-lending at a place not mentioned in licence, etc.
- Section 42 Penalty for wrong entry in promissory note, Bond, etc.
- Section 43 Penalty for contravention of section 24 or 25.
- Section 44 Penalty for charging rate of interest in contravention of section 31.
- Section 45 Penalty for molestation.
- Section 46 General provisions regarding penalties.
- Section 47 Offences by corporations, etc.
- Section 48 Certain offences to be cognizable.
- Section 49 No arrest and imprisonment in execution of decree for money against agricultural debtors.
- Section 50 Every officer to be public servant.
- Section 51 Protection of action taken in good faith.
- Section 52 Provision of XXVIII of 1947 saved.
- Section 53 Power of State Government to delegate its powers.
- Section 54 Rules.
- Section 55 Power to remove difficult.
- Section 56 Repeal of Bom. XXXI of 1947 and saving.
- Section 57 Repeal of Mah. Ord. I of 2014 and saving.
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