GAURI SHANKER RAI Vs. KAILASH RAI

JUDGEMENT

(1.) DEFENDANTS' appeal raises just a short question though of considerable importance regarding applicability of the provision of The Uttar Pradesh Regulation of Money-Lending Act, 1976 to money lent by any one who decides not to carry on such business after the enforcement of the Act.

(2.) THE plaintiff brought a suit for recovery of money due on a loak advanced on 20-8-1975 re-payable with 12% interest. THE plaintiff also claimed that he was not a money lender either from before the Act or thereafter as he was mainly an agriculturist.

(3.) ISSUES Nos. 2, 6 and 9 were discussed together holding that no licence was needed as plaintiff was not money lender and his claim was not barred under any of its provisions and the court decreed the suit.