If any loan provider or accredited loan provider or his agent takes from a borrower at the time of advancing a loan or deduct out of the principal of such loan any salami, batta, dharmada or other extraction of similar nature by whatever name called, he shall be punishable with fine which may extend to twenty thousand rupees.
Section 20: Penalty for salami, batta, dharmada etc.
The Jammu and Kashmir Money Lenders and Accredited Loan Providers Act, 2010Union territory Act of Jammu and Kashmir · Act 23 of 2010
Where this provision sits
| Act | The Jammu and Kashmir Money Lenders and Accredited Loan Providers Act, 2010 |
|---|---|
| Section | 20 |
| Marginal note | Penalty for salami, batta, dharmada etc. |
| Jurisdiction | Union territory of Jammu and Kashmir |
| Status | In force as published by the source |
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