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Curbs on pawnbrokers valid
The business of money lending and pawnbroking are usurious in nature and the government may impose onerous conditions to restrict or even discourage people from entering such businesses, the Supreme Court has stated in its judgment in the case, State of Karnataka vs Karnataka Pawn Brokers Association. It noted that the courts have frowned upon this trade all along. There is nothing arbitrary or unreasonable if the government imposes conditions to discourage people going to these traders, and they would be in public interest. The court made these observations while upholding a provision in the
The business of money lending and pawnbroking are usurious in nature and the government may impose onerous conditions to restrict or even discourage people from entering such businesses, the Supreme Court has stated in its judgment in the case, State of Karnataka vs Karnataka Pawn Brokers Association. It noted that the courts have frowned upon this trade all along. There is nothing arbitrary or unreasonable if the government imposes conditions to discourage people going to these traders, and they would be in public interest. The court made these observations while upholding a provision in the
