Section 14 in The U.P. Regulation Of Money-Lending Act, 1976
14. Certain loans to be made only by cheques. -
(1)Every loan advanced, after the commencement of this Act, by a money-lender [shall be evidenced by an account payee cheque, if the amount of such loan is two thousand five hundred rupees or more] [Substituted by U.P. Section 4 of U.P. Act No. 27 of 2006.][Provided that nothing in this sub-section shall apply to a transaction where a fresh bond or promissory note is executed in lieu of a bond or promissory note which remains wholly or partly unpaid.] [Inserted by U.P. Act No. 1 of 1979 and shall be deemed always to have been inserted.](2)Every transaction of money-lending in relation to a loan advanced in contravention of sub-section (1) shall be void.
