https://www.taxtmi.com/caselaws?id=194491 State money-lending regulation cannot impose additional controls on Reserve Bank-registered non-banking financial companies for activities governed by Chapter IIIB of the Reserve Bank of India Act, 1934. The Gujarat Money-Lenders Act, 2011 was constitutionally invalid to the extent that it deemed such companies registered under the State regime and subjected their regulated business to further State control. The State Act had to yield where it conflicted with the Central regulatory framework. An earlier decision under the Bombay Money-Lenders Act, 1946 did not operate as res judicata because the later Gujarat Act had not been examined and the legislative-conflict issue was a pure question of law. State enforcement against regulated non-banking financial activities was restrained. en-us Thu, 06 Sep 2012 00:00:00 +0530 Tue, 13 Mar 2018 09:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194491 State money-lending regulation cannot impose additional controls on Reserve Bank-registered non-banking financial companies for activities governed by Chapter IIIB of the Reserve Bank of India Act, 1934. The Gujarat Money-Lenders Act, 2011 was constitutionally invalid to the extent that it deemed such companies registered under the State regime and subjected their regulated business to further State control. The State Act had to yield where it conflicted with the Central regulatory framework. An earlier decision under the Bombay Money-Lenders Act, 1946 did not operate as res judicata because the later Gujarat Act had not been examined and the legislative-conflict issue was a pure question of law. State enforcement against regulated non-banking financial activities was restrained. Case-Laws Indian Laws Thu, 06 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194491