https://www.taxtmi.com/caselaws?id=194490 The court held that the Bombay Money-Lenders Act, 1946 does not apply to Non-Banking Financial Companies (NBFCs) unless specifically notified by the State Government. It was determined that NBFCs, regulated under Chapter IIIB of the Reserve Bank of India Act, are not subject to the Money-Lenders Act. Additionally, the court found that Chapter IIIB of the RBI Act prevails over the Money-Lenders Act in regulating and penalizing NBFCs, leading to the dismissal of appeals challenging the Money-Lenders Act's applicability to NBFCs. en-us Tue, 26 Apr 2011 00:00:00 +0530 Wed, 07 Feb 2018 14:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194490 The court held that the Bombay Money-Lenders Act, 1946 does not apply to Non-Banking Financial Companies (NBFCs) unless specifically notified by the State Government. It was determined that NBFCs, regulated under Chapter IIIB of the Reserve Bank of India Act, are not subject to the Money-Lenders Act. Additionally, the court found that Chapter IIIB of the RBI Act prevails over the Money-Lenders Act in regulating and penalizing NBFCs, leading to the dismissal of appeals challenging the Money-Lenders Act's applicability to NBFCs. Case-Laws Companies Law Tue, 26 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194490