(1) A money-lender may recover from a debtor fees for the pass book supplied to him under sub-section (2) of section 24 or in respect of copies of statements supplied to him under sub-section (3) of section 24 or statement of accounts supplied to him under sub-section ( 1) of section 25 and in respect of copies of such statements supplied to the Assistant Registrar under the said sub-section.
(2) Such fees shall be recoverable at such rates and in such manner as may be prescribed, subject to the maximum of two hundred rupees per debtor, per year irrespective of the number of statements or copies thereof supplied to the debtor or the Assistant Registrar during the relevant year.
27. A debtor to whom a pass book has teen furnished under section 24 or a statement of accounts has been furnished under section 25, shall not be bound to acknowledge or deny its correctness and his failure to do so shall not, by itself, be deemed to be admission of the correctness of the accounts.
28. Notwithstanding anything contained in any law for the time being in force, in any suit to which this Act applies, filed by a money-lender against a debtor,-
(a) Court shall before deciding the claim on merits, frame and decide the issues whether the money-lender has complied with the provisions of sections 24 and 25;
(b) if the Court finds, that the provisions of section 24 or section 25 have not been complied with by the money-lender, it may, if the plaintiffs claim is established, in whole orin part, disallow the whole or any portion of the interest found due, as may seem reasonable to it in the circumstances of the case and may disallow costs.
Explanation,-A money-lender who has given the receipt or furnished a statement of accounts or a pass book in the prescribed form and manner, shall be held to have complied with the provisions of section 24 or section 25, as the case may be, in spite of any errors and omissions, if the Court finds that such errors and omissions are not material or not made fraudulently.
29. Notwithstanding anything contained in any agreement or any law for the time being in force, no Court shall, in respect of any loan whether advanced before or after the date on which this Act comes into force, decree, on account of interest, a sum greater than the principal of the loan due on the date of the decree.
Notwithstanding anything contained in the Code of Civil Procedure, 1908, the Court may at any time, on application of a judgement debtor, after notice to the decree holder, direct that the amount of any decree passed against him, whether before or after the date on which this Act comes into force, in respect of a loan, shall be paid in such number of installments and subject to such conditions, and payable on such dates, as, having regard to the circumstances of the judgement debtor and the amount of the decree, it considers fit.
( 1) The State Government may, from time to time, by notification in the Official Gazette, fix the maximum rates of interest to be charged by a money lender in respect of secured loan and unsecured loan.
• 5 of 1908 30.
Power of Court to direct payment of decretal amount by instalment.
Limitation on 31.
rates of interest.
The Arunachal Pradesh Extraordinary Gazette, May 9, 2018 11 • ( 2) No money-lender shall receive from a debtor or intending debtor any sum by way of compound interest on a \oan advanced or intended to be advanced or any sum by way of interest at a rate higher than the rate fixed under sub-section ( 1).
(3) Notwithstanding anything contained in any other law for the time being in force, a money-lender shall not charge or recover from any debtor, on account of interest, a sum greater than the amount of principal of loan whether advanced before or after commencement of this Act.
( 4) Notwithstanding anything contained in any other law for the time being in force! no agreement between a money-lender and a debtor for payment of - interest at rates exceeding the maximum rates fixed by the State Government under sub-section (1) and no agreement in contravention of the provisions of sub-sections (2) and ( 3) shall be valid.