State Act

THE RAJASTHAN MONEY-LENDERS ACT, 1963

2[11. Dismissal of suit by money-lender not holding licence.— (I) Where a suit to which this Act applies is filed by a money-lender and the court in which it is filed is satisfied that at the time when the loan or any part thereof to which the suit relates was advanced, the money-lender did not hold a valid licence, it shall dismiss the suit forthwith without going into the merits of the claim and shall order the refund of the security, if any, without repayment of the loan. (2) Nothing in this section shall affect— (a) suits pending in any court on the date of the commencement of the Rajasthan Money-lenders (Amendment) Ordinance, 1975, which may be disposed of according to the law existing immediately before such commencement; (b) suits in respect of loans advanced by a money-lender before the date on which this Act came into force; and (c) the powers of the Court of Wards or an Official Assignee or a receiver or an administrator or a court under the law relating to insolvency for the time being in force or a liquidator under the Companies Act, 1956 (Central Act 1 of 1956) to release the properly of a money-lender.)