Who is a Pawn Broker?

The Telangana pawnbrokers act, 2002 defines the term ‘Pawn Broker’ and says a person who carries on the business of taking goods and chattels in Pawn for a loan. To explain the term more clearly added an explanation in the act stated as every person who has a shop for the sale of goods or chattels and purchases any goods or chattels and pays a sum of money or as an expressed sum. And after some time it can be repurchased or at any time will lie under this definition.

The Bench, in this case, was the Rajagopalan J. the petitioner was a Pawnbroker and he has obtained a license under the Madras pawnbroker act XXIII of 1943 in his petition he filed it on the basis the article 226 of the constitution of India against the sub magistrate for proceeding with the inquiry against the petitioner, which is given under section15 (1) of the pawnbroker act. And in this case, the judge explained the definition of the pawnbroker broadly as it was defined in section 2 (6) and the main point of the judgment is that neither the act as a whole nor any of the provisions thereof are invalid and unenforceable.