https://www.taxtmi.com/caselaws?id=306902 The Privy Council analyzed a case involving the Bengal Money-Lenders Act, 1940, addressing relief sought under a mortgage executed before the Act. The key issue was the applicability of the Act to provide relief to a mortgagor under a mortgage decree assigned to a bona fide assignee pre-Act. Sections 28 and 29 were deemed inapplicable post-judgment, with Section 30 crucial for borrower relief. Section 36 allowed reopening of transactions to limit borrower liability. The Privy Council advised allowing the appeal, setting aside the High Court's decree, and restoring the original decree, with costs borne by the respondents. en-us Wed, 07 Mar 1945 00:00:00 +0630 Sat, 04 Mar 2023 18:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306902 The Privy Council analyzed a case involving the Bengal Money-Lenders Act, 1940, addressing relief sought under a mortgage executed before the Act. The key issue was the applicability of the Act to provide relief to a mortgagor under a mortgage decree assigned to a bona fide assignee pre-Act. Sections 28 and 29 were deemed inapplicable post-judgment, with Section 30 crucial for borrower relief. Section 36 allowed reopening of transactions to limit borrower liability. The Privy Council advised allowing the appeal, setting aside the High Court's decree, and restoring the original decree, with costs borne by the respondents. Case-Laws Indian Laws Wed, 07 Mar 1945 00:00:00 +0630 https://www.taxtmi.com/caselaws?id=306902