Section 25: Inducing borrowing by false statements
consolidated text (as at 2007). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
25. Inducing borrowing by false statements
A moneylender or his manager, agent or clerk, or a director, manager or
other officer of any corporation carrying on the business of a moneylender
who—
(a) by any false, misleading, or deceptive statement, representation,
or promise; or
(b) by any dishonest concealment of material facts, fraudulently induces or attempts to induce any person to borrow money or to
agree to the terms on which money is or is to be borrowed,
shall commit an offence and shall, on conviction, be liable to a fine not
exceeding 5,000 rupees and to imprisonment for a term not exceeding
12 months.
[S. 25 amended by Act 25 of 2000.]