THE JAMMU AND KASHMIR MONEY LENDERS AND ACCREDITED LOAN PROVIDERS ACT, 2010
Section 12. Suits and applications by un-registered money lenders barred.
Notwithstanding anything contained in any other enactment for the time being in force––
(i) a suit by a money lender for the recovery of a loan ; or
(ii) an application by a money lender for the execution of a decree relating to a loan ; or
(iii) an application for resolution of dispute through a Lok Adalat or Panchayat,
shall be dismissed, unless at the time when the loan was advanced, the money lender held an effective registration.
Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.
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