MONEY-LENDERS RULES, 1349
These rules may be called the Money-Lenders Rules and shall come into force from the date of publication in the Official Gazette.
In these rules, unless there is anything repugnant in the subject or context:
(1) "Act" shall mean the Money Lenders Act, No. 5 of 1349 Fasli;
(2) Words and expressions used in these rules shall have the same meaning as assigned to them in the Money-Lenders Act.
(3) "Authorised Attorney" shall mean such attorney as has been appointed to be an attorney by a general or special power of Attorney.
(1) The power to register the name of money-lender and to grant him a licence under sub- section (2) of the Section 3 of the Act, shall vest
(a) in the Municipal limits of the cities of Hyderabad and Secunderabad, in the Collector, Hyderabad District; and
(b) in other areas in Tahsildar concerned.
(2) A licence issued under sub-rule (1) may be signed either by the officer empowered in that sub-rule or on his behalf by any other officer subordinate to him and authorised by him for this purpose.
The register maintained under sub-section (1) of Section 3 of the Act for the purpose of registering money-lender shall be in the form of the Schedule "A" attached hereto. Each page of the register shall bear the serial number of the pages and seal of the concerned office also shall be affixed thereto. At the end of the register the officer concerned shall, under his hand, make an endorsement as to the total number of pages of such register and affix his signature thereto.
The application to be submitted by money lenders for registering themselves and obtaining money-lending licences shall be in the form of the Schedule B attached hereto.
The Court fee payable on an application made under Rule 5 or 15 shall be the same as is prescribed in the Court Fees Act, in accordance with the status of the Department concerned.
Every application under Rule 5 may be made in person or through a pleader or an agent.
A money lending licence, granted under sub-section (2) of Section 3 of the Act shall be in the form of the schedule "C" attached hereto.
The fee to be charged under sub- section (3) of Section 3 of the Act on every licence before the issue thereof shall be rupees twenty five.
Every money-lender may get himself registered and obtain a licence by presenting an application to the officer empowered under Rule 3 within whose jurisdiction the original place of his business or a branch thereof is situated.
As soon as an application is made in the prescribed form, the competent officer shall enter the date of receipt thereon and if the application is in accordance with the rules, shall proceed as follows :
(a) He shall require the applicant to deposit licence fee prescribed under 9 which shall be credited in the concerned treasury under the Revenue Head.
(b) After the fee is deposited the application shall, so far as it is relevant, be entered in the register mentioned in Rule 4 and after duly filing up the licence, relevant serial number and date of the aforesaid register shall be entered therein, and the licence shall within two weeks from the date of depositing the amount be given to the applicant on acknowledgement of receipt by him.
A licence granted under Rule 11 shall be useful for one District only. A money lender having his business in more than one District shall obtain a separate licence for each district on payment of fees mentioned in Rule 9 for every licence.
Every Money-lender shall, within a period of three months from the date of commencement of these rules, get himself registered and obtain money-lending licence; otherwise he may be proceeded against under Clause (b) of sub-section (5) of Section 3 of the Act.
The files relating to applications for registration and issue of licences shall be preserved for six years and may thereafter be destroyed.
If any licence issued is lost, destroyed or rendered doubtful by any reason or has become so spoiled as not to be legible a copy of the licence may be obtained from the competent officer by making an application and on payment of a fee at rupees five per copy thereof, and on such copy the word "copy" shall be written with red ink in bold letters.
Every money-lender shall before the expiry of the period of licence obtain another licence.
Where after the expiry of three months from the commencement of these rules, an officer mentioned in Rule 3 has reason to believe that any money-lender is carrying on money-lending business within the limits of his jurisdiction without a licence, he shall summon the money- lender and investigate the matter. Where the Investigating Officer is of an inferior rank than that of a (Talukdar) "Collector" he shall, after completing the investigation, forward the report to the (Talukdar) "Collector". On receipt of the report the (Talukdar) "Collector" may pass orders in accordance with the provisions of Section 3 of the Act. If the investigating officer is himself a (Talukdar) "Collector" he may after completing the investigation pass such orders as he deems fit and the (Talukdar) "Collector" may direct any officer subordinate to him to investigate such contravention, forward a report and may, on submission of such report, pass order
For the purposes of Rule 17 the officer-concerned shall have the same powers with regard to summoning of witness, requiring production of documents, recording evidence and other proceedings as are provided in Chapter X of the Land Revenue Act.
The sums recovered under sub-section (5) or sub-section (6) of Section 3 of the Act in respect of penalty or compromise shall be credited under the head pecuniary fines.
Where an investigation is going or against any money-lender on the ground of contravention of sub- section (5) of Section 3 of the Act, no action shall be taken under Rule 11 on the application by such money-lender for registration and grant of a licence until such investigation has been finally disposed of. On completion of investigation action shall, however, be taken in accordance with the result thereof.
Every application presented under sub-section (2) of Section 4 of the Act shall be in writing and shall be accompanied with formal copies of such papers, as are relied upon by the applicant.
The Civil Courts shall, from time to time after the expiry of the period of appeal and if appeals have been filed, after the passing of judgments in such appeals communicate to the (Talukdar) "Collector" particulars of matters mentioned in Clauses (a) to (d) of sub-section (1) of Section 4 of the Act forwarding extracts of final judgments. The aforesaid extracts and copies shall be sent to the (Talukdar) "Collector" free of charge.
The (Talukdar) "Collector" shall before passing a final order under Section 4 of Act, cause a notice to be served upon the money-lenders, fixing a date and requiring him to show cause why his licence should not be suspended or cancelled or renewal thereof be prohibited for the contravention. The (Talukdar) "Collector" shall, if the money-lender files objections before the date fixed in the notice, after considering the same and if the money- lender does not file objections before the date fixed then after the said date, pass reasonable order in accordance with Section 4 of the Act, which shall be communicated to the money-lender and the licensing authority concerned.
The statement of account mentioned in Clause (b) of sub-section (1) of Section 5 of the Act shall be in Form (D) of the Schedule attached hereto.
a pawnbroker shall furnish to the pawner in Form (E) of the Schedule annexed hereto, an inventory of the articles taken in pawn.
The receipt which shall be given by the money-lender under Section 8 of the Act for the money paid by the debtor shall be in Form (F) of the Schedule attached hereto.
The form prescribed by these rules shall be furnished by every money lender at his own cost.
The numerals in the entries of the statement of account referred to in Rule 24 and the inventory of articles taken in pawn referred to in Rule 25 shall be of the same language in which the statement has been prepared.
Full name, nationality and residence of every debtor together with fathers name and full name, nationality and residence of every joint debtor, if any, together with his fathers name shall be written on the top of the account maintained by a money-lender in accordance with the provisions of sub-section (1) of Section 5 of the Act.
The advance of every loan and payment thereof shall be entered separately and datewise in the account of debt as also in the statements of debt as also in the statements of account.
The statement of account mentioned in Rule 24 shall be sent to the debtor within one month after the date mentioned below relating to each statement:
For cash accounts Diwali
For accounts pertaining to grains Thirteenth day of Vaisakh
The entries pertaining to the amount of loan, date of advancing loan, rate of interest and the amounts repaid made in the Statement of account mentioned in Rule 24 shall tally with the entries made in the account books of a money-lender maintained under the Act.
(a) A copy of the statement of account shall with the debtors expenses be sent by post to the debtor at his address and the postal expenses shall be charged to the debtors account. The money-lender shall, while sending the statement of account by post, obtain a certificate of posting and preserve it.
(b) In case there are two or more joint debtors, in the absence of an agreement to the contrary, the statement shall be furnished as aforesaid to all such debtors as are concerned with the debt.
(c) In case a statement of account is handed over to the debtor, joint debtor, the receipt from such debtor or joint debtor, shall be obtained on a separate paper and preserved on which the signature or thumb impression of the debtor or the joint debtor shall be affixed:
Schedule Schedule (A)
Money-lenders Rules
Money-lenders Register provided in sub-section (1) of Section 3 of the Act and referred to in Rule 4
Maintained at the office of.............................Taluq.........................
District ............................. of 13............................ F/19...........A.D.
Serial number
Date of registration
Money-lenders name together with his fathers name
Nationality or religion
&n
Schedule Schedule (B)
Money-lenders Rules
Form of application for Registration and Grant of Money-Lending licence
(As provided in sub-section (2) of Section 3 of the Act and referred to
in Rule 5)
To
The Tahsildar
.......................Collector
Taluq.............................
District...........................
Sir,
&nb
Schedule Schedule (C)
Money-lenders Rules
Money-lenders Licences
(As provided in sub-section (2) of Section 3 of Money-lenders Act
and referred to in Rule 8)
Serial No. of Money-lenders Register ( )
I certify that Mr. or Mrs............... son of/wife of...............Community...............or religion...............resident of...............Taluq...............District...............has been registered today...............135 F.,/19...............A.D. as money-lender under sub-section (3) of Section 3 of the Money-lender
Schedule
Schedule (D)
Money-lenders Rules
Statement of accounts as provided in Clause (b) of sub-section (1) of Section 5 of the Act and referred to in the Rule 24
Account of debt due from ...............s/o ...............nationality
...................R/o ...............Arrears of previous interest ...............Capital...............total
Loan advanced :
1. Date
2. Details of total loan advanced
Schedule Schedule (E)
Money-lenders Rules
Inventory of articles taken in pawn as provided in sub-section (2) of
Section 6 of the Act and referred to in Rule 25.
Pawnbrokers name................S/o...............Nationality R/o..................
Locality/Village..............Taluq
District
(Money-lending licenceNumber............of..........13.....F./19......A.D.)
&n
Schedule Schedule (F)
Money-lender Rules
RECEIPT
(As provided in Section 8 of the Act and referred to in Rule 26)
Money-lenders name
Fathers name...............Nationality ............... R/o ...............Locality/Village ...............Taluq ............... District...............Money-lending licence number...............of 13...............F/19.......A.D.
I.G. Rs................Np................
(...............) Maunds and (...............) Seers of (...............)valued I.G. Rs...............Np................
from
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