2013 (4) TMI 997

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....ate whereby 23 complaint cases under Section 138 of the Negotiable Instruments Act, 1881(the Act) were dismissed by the learned Metropolitan Magistrate(MM) primarily on the ground that the Petitioner was in the business of advancing loan; he did not possess any money lending licence and thus the complaint was barred under Section 3 of the Punjab Registration of Money-lender's Act, 1938 (the Act of 1938). The learned MM opined that although the cheques were issued in discharge of liability or debt, yet in view of the provisions of the Act of 1938, the debts were legally not recoverable. Thus, the learned M.M. dismissed the complaints and acquitted the Respondent. 4. In the 23 complaint cases, various cheques have been issued which are ext....

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....008 48,000/- 12,000/- 12,000/- 503/2011 207697 207698  007581 15.12.2008 25.12.2008 26.11.2008 10,000/- 10,000/- 36,000/- 504/2011 000004 000004 000004 09.09.2008 10.09.2008 11.09.2008 48,000/- 48,000/- 36,000/- 505/2011 000025 000042 000043 03.10.2008 07.11.2008 14.11.2008 7,500/- 1,00,000/- 1,00,000/- 506/2011 002424 207677 207696 25.09.2008 24.10.2008 28.12.2008 40,000/- 16,500/- 10,000/- 507/2011 000018 000026 000027 000037 28.10.2008 11.10.2008 20.10.2008 20.11.2008 7,500/- 7,500/- 7,500/- 7,500/- 508/2011 000010 000012 000014 18.09.2008 25.10.2008....

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....for execution- (i) is registered; and (ii) holds a valid licence, in such form and manner as may be prescribed; or (iii) holds a certificate from a Commissioner granted under section 11, specifying the loan in respect of which the suit is instituted, or the decree in respect of which the application for execution is presented; or (iv) if he is not a registered and licensed money-lender, satisfies the Court that he has applied to the Collector to be registered and licensed and that such application is pending; provided that in such a case, the suit or application shall not be finally disposed of until the application of the money-lender for registration and grant of license pending before the Collector is ....