Court : National Consumer Disputes Redressal Commission NCDRC
..... act, 1934, or the punjab act xii of 1942, shall not apply to transactions of loan advanced by the life insurance corporation of india. the provision regarding damdupat was applied in delhi by amendment of the ..... .- in exercise of the (powers) conferred by sub-section (3) of section 1 of the usurious loans act, 1918, the lt. governor of delhi is pleased to direct that the provisions of that act as amended by the punjab relief of indebtedness act, 1934, punjab act, xii of 1940 and punjab act vi of 1942, as extended to the union territory of delhi, shall not apply to the ..... transactions of loan advanced by the life insurance corporation of india any person or body of persons, whether incorporated or not, residing or situated in the union territory of delhi. by order, mrs. s. duggal, deputy secy.? this means that the provisions of the usurious loan act, 1918, as amended by the punjab relief of indebtedness ..... bench of delhi high court which has vide its order dated 29.11.1985 held that the rule of damdupat as reflected in section 30 of the act, 1934 is not applicable to the loan advanced by the lic of india. he therefore submitted that the order of the delhi high court based on which the fora below had returned their findings .....Tag this Judgment!