Section 2 in The M.P. Anusuchit Jan Jati Sahukar Viniyam, 1972
2. Definitions.
- In these Regulations, unless the context otherwise requires,-(i)"Bank" means a banking company, as defined in Section 5 of the Banking Regulation Act, 1949 (X of 1949) and includes the State Bank of India constituted under the State Bank of India Act, 1955 (23 of 1955), a subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959 (38 of 1959) and any other financial institution as the State Government may, by notification specify in this behalf;(ii)"Co-operative Society" means a society registered or deemed to be registered under the Madhya Pradesh Co-operative Societies Act, 1960 (No. 17 of 1961);(iii)"Court" includes a Court acting in the exercise of insolvency jurisdiction;(iv)"Debtor" means a member of Scheduled Tribes to whom a loan is advanced and includes a successor-in-interest or surety;(v)"Interest" includes any amount, by whatever name called, paid or payable to a lender in consideration of or otherwise in respect of a loan in excess of the Principal, but does not include any sum lawfully charged by a lender in accordance with the provisions of these Regulations or any other law for the time being in force for or on account of Legitimate costs, charges or expenses.(vi)"Licence" means a money-lender's licence granted under these Regulations and "licensed" shall be construed accordingly;(vii)"Loan" means an advance of money or articles, goods or materials for interest, and includes any transaction which the Court finds in substance to amount to such an advance, but does not include-(a)a deposit of money or other property in a bank, Post Office Saving Bank or Co-operative Society;(b)an advance made by the Government or by any person authorised by the Government to make advance in their behalf or by any local authority;(c)an advance made by a Bank or a Co-operative Society.(viii)"Member of Scheduled Tribes" means a member of any tribe, tribal community or part of or group within tribe or tribal community specified as such with respect to the State of Madhya Pradesh under Article 342 of the Constitution of India.(ix)"Money-lender" means a person whose business is that of advancing and realising loans and shall includes a trader and shall also include, subject to the provision of Section 3, the legal representatives and successors in interest whether by inheritance, assignment or otherwise of the person who advanced the loan but does not include a bank or a Co-operative Society and the expression "Money-lending" shall be construed accordingly;Explanation. - Where a money lender who is not a resident of the Scheduled Area carried on the business of money-lending through his agent who resides in such area, such agent shall be deemed to be the money-lender in respect of that business;(x)"Pledge" means an article pledged;(xi)"Pledger" means a person delivering an article for pledging it to a money-lender;(xii)"Principal" means the actual advance made to a debtor whether in cash or kind;(xiii)"Scheduled Area" means any area declared to be Scheduled Area within the State of Madhya Pradesh under paragraph 6 of the Fifth Schedule to the Constitution of India;(xiv)"Trader" means a person who carried on the business of taking goods and chattels in security for a loan advanced by him;Explanation. - Every person who keeps a shop for the purchase or sale of goods or chattels, or for taking in goods or chattels by way of security for money advanced thereon and who purchases, receives or takes in goods or chattels and pays, advances or lends thereon any sum of money with or without an agreement or understanding expressed or implied, that those goods or chattels may be afterwards redeemed or repurchased on any terms is a trader with in the meaning of this clause;(xv)"Year" means a year reckoned according to the British calendar or such other period as may be prescribed by rules.
