Person Taking Interest Without License

If someone is taking interest from you and he has no license to do so, what can you do to take legal action?

Answer (1)

Team Legistify

Team Legistify

  • Sector-1, Noida

if you had borrowed the money under the relationship or friendship and he charges the interest, in that case, no legal action is required. But if you borrow the money from any person who took security from you and he had no license, he will be considered laundering money and a complaint can be filed under the money laundering act with the help of a recovery lawyer in India.

Answered on 14 Oct 2019


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