Legal Document View

Unlock Advanced Research with PRISMAI

- Know your Kanoon - Doc Gen Hub - Counter Argument - Case Predict AI - Talk with IK Doc - ...
Upgrade to Premium
[Cites 0, Cited by 6] [Section 18] [Entire Act]

State of Maharashtra - Subsection

Section 18(1) in Maharashtra Money-Lending (Regulation) Act, 2014

(1)If, on the basis of facts disclosed, during verification under section 16 or inspection under section 17, or by an application from a debtor or otherwise, the District Registrar has reason to believe that any immovable property, which has come in possession of the money-lender by way of sale, mortgage, lease, exchange or otherwise, within a period of [fifteen years] [These words were substituted for the words 'five years' by Mah. 23 of 2014, section 8.] from the date of verification or the inspection or the date of receipt of application from debtor, in the nature of the property offered by the debtor to the moneylender as a security for loan advanced by the money-lender in course of money-lending, the District Registrar may, himself or through an inquiry officer, to be appointed for the purpose, in the manner prescribed, hold further inquiry into the nature of the transaction.