MONEY LENDER CAN'T REIMBURSE THE LIABILITY, IF THE MONEY WHICH HE HAS GIVEN WAS NOT SHOWN IN IT RETURNS

The Hyderabad High Court has dismissed a petition filed by a private banker to take action under Section 138 of the 'Negotiable Instrument Act' on a person who did not repay the loan amount of Rs 2 lakh and ruled that a person who took the money cann’t be legally charged by the money lender, if the money lender didn’t shown that money in his IT returns.

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