MONEY LENDING WITH OUT LICENSE

Question

One of them took Rs 50,000 per month at 10% from a railway job worker who has money lending business, now I am not able to pay interest for 5 months, so they are taking Rs 100 per day from me, and at my mother’s shop Locked now says give money political and police inspector threatens them and threatens to come and see at home and also snatched my Honda Activa and now my family members are not allowing them to open their shop and police to my father He is saying that if I go to the police station, he will come to my house and fight with my family members.

Answer ( 1 )

    0
    2023-06-22T18:07:05+05:30

    File a police complaint regarding the threats being issued. if the money lending is without any license, it is not permitted however the money lender cannot enforce the other means which are permissible under the law for the recovery i.e. suit for recovery of money since he wont be able to prove that the money was given to be returned with interest. he will have to prove that the interest can be levied on heavy side as he is having a license. therefore, if they have snatched away your activa then it is advisable to file a police complaint and meanwhile install CCTV cameras in your house to record any untoward incident that may be caused on your filling of police complaint.

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