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Dear Client,

Engaging in money lending or any financial transactions without the required license or permission from the relevant regulatory authorities, such as RBI or SEBI, may lead to legal consequences under the Prevention of Money Laundering Act, 2002 (PMLA). This legislation is designed to combat the criminal act of legitimizing income/profits derived from illegal sources.

Under Section 3 of the PMLA, 2002, anyone directly or indirectly involved in processes or activities connected with

Dear Client,

Under the Assam Money Lender's (Amendment) Act, 1968, any person engaged or intending to engage in the money-lending business must register by submitting an application to the Registrar in the prescribed form along with the required fees. Upon registration, the Registrar issues a certificate in the prescribed format.

Section 9(1) of the Act stipulates that no money-lender can, for any loan made before or after the commencement of the Act, recover, whether through legal means or o

1) It depends on what type of business the proprietor company is having.
2) The business should be of some physical commodities like paper distributorship, onions etc. like it should not be off the market commodities like shares finance or further investments as the business should be physically visible to you.
3) Fixed income of 5% interest is not applicable in any courts maximum what you can ask for the interest is 24% per annum.
4) If you want such higher interest or something of that sort, i

Dear Client,,
Based on the Bond, you can serve a legal notice to the person demanding payment of the loan failing which you have to file a money suit against your relative in the Civil Court. Reach out to an Advocate for guidance and steps.

Dear client
As you have taken a loan you have to pay it back.There is no alternative to it but you can do is file an application to delay the payment reback procedure.
Sometimes depending upon the clause, you need to go for either arbitration or any other way out.
Send a legal notice to the loan giver authority/agency and request for time.

Dear Client,
In the context of a Section 8 microfinance company, offering loans exclusively to members who have taken a subscription or membership of your organization is a practice that can be legally viable, given that the company is structured as a not-for-profit entity with the primary objective of promoting charitable activities. However, it is crucial to ensure that this practice aligns with the specific regulations and guidelines governing Section 8 companies, microfinance institutions, a

Dear Client,
Facing financial challenges can be stressful, and it's important to handle the situation carefully. Firstly, try to communicate with your bank and explain your financial difficulties. Share a detailed breakdown of your income and expenses to demonstrate your financial constraints. Request for a revised repayment plan or extension that aligns with your current financial situation.
Document your communication with the bank and recovery agents, including any threatening language. If yo

Dear Client,
Oral agreement are not binding on the either parties. But legal FIR can be filed but you may challenge in the high court.
Thankyou

Dear Client,
A business or trading of lending money on higher interest without the permission of competent authority is a criminal offence and comes under the purview of Prevention of Money Laundering Act, 2002 (PMLA). If anybody involved in trading of money lending or any other financial transaction without any license or permission of the concerned regulatory authority like RBI, SEBI, then he or she may be booked under the Prevention of Money Laundering Act, 2002 (PMLA) which was enacted to fi

Dear Client,
Being co-borrower of the secured loan account and the owner of the motgaged property, she has to face legal consequences for non-payment of dues lying against loan. Once a loan is not repaid by the borrower for any reason whatsoever, it is treated by the Bank as NPA. Accordingly, the Bank sends notice to the Borrower asking him/her for repayment of the entire dues lying against your loan offering suitable terms. In the absence of any response from the Borrower, the Bank starts the