Section 11 in The Karnataka Money-Lenders Act, 1961
11. Suits by money-lenders not holding licence.—
(1)After the expiry of six months from the date on which this Act comes into force, no Court shall pass a decree in favour of a money-lender in any suit to which this Act applies, filed by a money-lender, unless the Court is satisfied that at the time when the loan or any part thereof to which the suit relates was advanced, and on the date such suit was filed the money-lender held a valid licence.(2)***(3)***(4)***(5)Nothing in this section shall affect—(a)suits in respect of loans advanced by a money-lender before the date on which this Act comes into force;(b)the powers of an official receiver, an administrator or a Court under the provisions of the Mysore Insolvency Act, 1925, or other corresponding law in force in any area of the State, or of a liquidator under the Companies Act, 1956, to realise the property of a money-lender.
