Legal Question in Banking Law in India

if any person says he is not money lender and still lends money being a huge amount in lakhs that too without showing in income tax returns and files case against the person to whom he lent the money, on the basis of cheque taken as security under NIA is he entitled to get the accused convicted?


Asked on 8/06/09, 1:02 pm

6 Answers from Attorneys

No but you have to proof all these facts and complain to the income tax officer in this regard.

how long u r in India. what was the reason. your case is require consultation only then it may be possible.

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Answered on 8/06/09, 1:10 pm
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Yes.

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Answered on 8/06/09, 2:14 pm
J. Radhakrishnan independent Practice

The fact that the lender has not declared himself as money lender by profession or that he did not file proper income tax returns are immaterial in a case filed by him for the cheque in his favour having bounced for insufficiency of funds. It is for the accused to prove that no money has been lent and why the cheque by him was given to the lender.

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Answered on 8/06/09, 10:23 pm
Pranav Desai PD Legal & Associates

Yes

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Answered on 8/07/09, 1:12 am
Aniruddha Pawse Aniruddha.P.Pawse Advocates

yes under money lenders act.

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Answered on 8/07/09, 7:44 am
Prof.Somnath Mukherjee s.mukherjee associates,09874053359

The above view is correct

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Answered on 8/08/09, 1:10 pm


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