https://www.taxtmi.com/caselaws?id=200111 Amended provisions requiring licensed money lenders and pawn brokers to furnish security deposits, with forfeiture safeguards, were treated as constitutionally valid because the regulated class formed a distinct category and the measures bore a rational nexus to protecting borrowers and compensating affected borrowers. The security deposit was construed by reference to the actual capital invested and used for lending, not the aggregate of repeated loans advanced from the same capital. The absence of an express interest clause did not invalidate the scheme; interest on the deposit was read in as part of implementation at the scheduled bank fixed-deposit rate. Requiring a pawn broker to obtain a money-lender's licence was also upheld as non-arbitrary. en-us Thu, 07 Mar 1991 00:00:00 +0530 Wed, 21 Mar 2018 12:39:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200111 Amended provisions requiring licensed money lenders and pawn brokers to furnish security deposits, with forfeiture safeguards, were treated as constitutionally valid because the regulated class formed a distinct category and the measures bore a rational nexus to protecting borrowers and compensating affected borrowers. The security deposit was construed by reference to the actual capital invested and used for lending, not the aggregate of repeated loans advanced from the same capital. The absence of an express interest clause did not invalidate the scheme; interest on the deposit was read in as part of implementation at the scheduled bank fixed-deposit rate. Requiring a pawn broker to obtain a money-lender's licence was also upheld as non-arbitrary. Case-Laws Indian Laws Thu, 07 Mar 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200111