Supreme Court · 2018 INSC 237 · Decided 15 March 2018
The State of Karnataka & ORS. v. The Karnataka Pawn Brokers ASSN. & ORS.
- Court
- Supreme Court of India
- Citation
- 2018 INSC 237 · [2018] 10 S.C.R. 409
- Case number
- CIVIL APPEAL No. 5793/2008
- Decided
- 15 March 2018
- Bench
- MADAN B. LOKUR, DEEPAK GUPTA (2-judge bench)
- Outcome
- Case Partly allowed
- Case type
- Civil
- Acts & sections cited
- Constitution Article 14; Arbitration Act
Headnote
Karnataka Money Lenders Act, 1961 - s.7-A and 7-B - Karnataka Pawn Brokers Act, 1961 - s. 4-A and 4-B - Whether the amendments made to the Karnataka Money Lenders Act (M.L. Act) and Karnataka Pawn Brokers Act (P.B. Act) in 1998 providing that the security deposit furnished brokers in terms of ss. 7-A and 4-A of the Acts respectively shall not carry interest, is constitutional, legal and valid - Held: Legal and valid - Businesses of money lending and pawn broking are usurious businesses and the Government may rightly impose onerous conditions to
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