https://www.taxtmi.com/caselaws?id=436730 A solitary advance supported by an agreement, promissory note and cheque is not treated as the business of money lending under the Bombay Money Lenders Act, 1946 unless there is material showing a continuous lending business. The Act distinguishes an isolated loan from money lending business, and a negotiable-instrument based advance is also relevant to that distinction. Where the cheque is issued against an existing liability and the ingredients of dishonour, notice and non-payment are proved, section 138 of the Negotiable Instruments Act, 1881 remains maintainable. On that reasoning, the transaction was held outside the money-lenders law and the cheque dishonour prosecution was sustained. en-us Thu, 13 Apr 2023 00:00:00 +0530 Thu, 20 Apr 2023 08:45:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436730 A solitary advance supported by an agreement, promissory note and cheque is not treated as the business of money lending under the Bombay Money Lenders Act, 1946 unless there is material showing a continuous lending business. The Act distinguishes an isolated loan from money lending business, and a negotiable-instrument based advance is also relevant to that distinction. Where the cheque is issued against an existing liability and the ingredients of dishonour, notice and non-payment are proved, section 138 of the Negotiable Instruments Act, 1881 remains maintainable. On that reasoning, the transaction was held outside the money-lenders law and the cheque dishonour prosecution was sustained. Case-Laws Indian Laws Thu, 13 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436730