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Section 17: Prohibition regarding rate and amount of interest

The Himachal Pradesh Relief of Agricultural Indebtedness Act, 1976State Act of Himachal Pradesh · Act 17 of 1976

Notwithstanding anything contained in any law for the time being in force or in any agreement, no small farmer shall be liable to pay after the commencement of this Act-

(a) any sum in respect of principal and interest which together exceeds the principal;

(b) on account of interest outstanding on the date, upto which such liability is computed a sum greater than the principal outstanding on such date; and

(c) any interest other than simple interest at a rate of six per cent per annum or the rate stipulated between the parties, whichever is less:

Where this provision sits

ActThe Himachal Pradesh Relief of Agricultural Indebtedness Act, 1976
Section17
Marginal noteProhibition regarding rate and amount of interest
JurisdictionState of Himachal Pradesh
StatusIn force as published by the source

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