https://www.taxtmi.com/caselaws?id=309884 Section 3 of the Punjab Registration of Money-lender's Act, 1938 bars recovery actions by an unregistered and unlicensed money-lender, but the Act's definition of loan excludes an advance made on the basis of a negotiable instrument other than a promissory note. Where the advance was made through cheques, the statutory bar did not apply because cheques are negotiable instruments. Complaints under Section 138 of the Negotiable Instruments Act, 1881 therefore could not be dismissed solely on the ground that the lender was unregistered under the money-lending statute. en-us Thu, 18 Apr 2013 00:00:00 +0530 Tue, 26 Sep 2023 15:55:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309884 Section 3 of the Punjab Registration of Money-lender's Act, 1938 bars recovery actions by an unregistered and unlicensed money-lender, but the Act's definition of loan excludes an advance made on the basis of a negotiable instrument other than a promissory note. Where the advance was made through cheques, the statutory bar did not apply because cheques are negotiable instruments. Complaints under Section 138 of the Negotiable Instruments Act, 1881 therefore could not be dismissed solely on the ground that the lender was unregistered under the money-lending statute. Case-Laws Indian Laws Thu, 18 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309884