AIR 2018 (NOC) 303 (BOM.) ::2018 (1) ABR 308 ::(2018) 3 AllMR 525 (BOM)

Bombay High Court

Hon'ble Judge(s): B. P. Colabawalla , J

(A) Maharashtra Money-Lending (Regulation) Act (8 of 2014) S. 13 , 2 (13) — Suit by money lenders not holding valid license — Bar as to — ' Loan' ‌ — Plaintiff advancing loan to defendant on basis of negotiable instrument other than promissory note — Defendant issuing three post dated cheques at time of taking loan — Evidence on record showing that cheques issued for repayment by defendant to plaintiff forms part of one composite agreement — Complete transaction does not fall within definition of term ' loan— u/S. 2 (13) — Suit not hit by bar u/S. 13 of Act. 2014 SCC OnLine Bom 2304, Rel. on. (Para 19)

(B) Maharashtra Money-Lending (Regulation) Act (8 of 2014) S. 13 , 2(14) — Suit by money lenders not holding valid license — Bar as to — ' Money lender— — Plaintiff advancing loan to defendant on basis of negotiable instrument other than promissory note — Balance sheet and accounts of plaintiff, showing that primary business is not of money lending — Merely because balance sheet showing certain loans granted by plaintiff in favour of few parties — Plaintiff cannot be considered as money lender — Suit not hit by bar u/S. 13 of Act — Defendant granted leave to defend suit after depositing in Court sum fixed. 2014 SCC OnLine Bom 2304, Rel. on. (Para 21,22)