Suits and applications by unregistered money lenders barred.

Notwithstanding anything contained in any other enactment for the time being in force–– (i) a suit by a money lender for the recovery of a loan ; or (ii) an application by a money lender for the execution of a decree relating to a loan ; or (iii) an application for resolution of dispute through a Lok Adalat or Panchayat, shall be dismissed, unless at the time when the loan was advanced, the money lender held an effective registration.