https://www.taxtmi.com/caselaws?id=114010 The court held that the respondent's activities as a money lender fell under the Assam Money Lenders' Act, 1934, due to regular lending practices. Tea plantation and production were classified as agricultural activities, prohibiting compound interest on loans. The winding-up petition based on disputed claims was deemed not maintainable. The court set aside the previous judgment, allowing the respondent to seek recovery through an appropriate forum and retain the deposited amount by the appellant for adjustment. No costs were awarded. en-us Fri, 01 Aug 2008 00:00:00 +0530 Tue, 02 Dec 2014 19:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=114010 The court held that the respondent's activities as a money lender fell under the Assam Money Lenders' Act, 1934, due to regular lending practices. Tea plantation and production were classified as agricultural activities, prohibiting compound interest on loans. The winding-up petition based on disputed claims was deemed not maintainable. The court set aside the previous judgment, allowing the respondent to seek recovery through an appropriate forum and retain the deposited amount by the appellant for adjustment. No costs were awarded. Case-Laws Companies Law Fri, 01 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=114010