https://www.taxtmi.com/caselaws?id=197608 The Bombay Money-Lenders Act applied only if the advance was a loan on the date money was advanced; on that date, the transaction did not satisfy the statutory definition, and the later suit did not change its character. A cheque, including a post-dated cheque, remained a negotiable instrument, so an advance against it was treated as made on that basis. Whether the plaintiff was carrying on the business of money-lending was a question of fact, and sporadic advances without system, repetition, or continuity did not amount to such business. The statutory bar therefore did not apply, and the plaintiff's decree remained undisturbed. en-us Fri, 23 Jul 1993 00:00:00 +0530 Wed, 10 Jan 2018 17:31:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197608 The Bombay Money-Lenders Act applied only if the advance was a loan on the date money was advanced; on that date, the transaction did not satisfy the statutory definition, and the later suit did not change its character. A cheque, including a post-dated cheque, remained a negotiable instrument, so an advance against it was treated as made on that basis. Whether the plaintiff was carrying on the business of money-lending was a question of fact, and sporadic advances without system, repetition, or continuity did not amount to such business. The statutory bar therefore did not apply, and the plaintiff's decree remained undisturbed. Case-Laws Indian Laws Fri, 23 Jul 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197608