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Section 10: Re-scheduling of loans taken by a fisherman from financial institutions

The Kerala Fishermen Debt Relief Commission Act, 2008State Act of Kerala · Act 9 of 2008

(1) Notwithstanding anything contained in this Act or in any other law or contract or decree or order of any Court or Tribunal, the Commission may reschedule the recovery of loans availed by the fisherman of a disaster affected area due on or before the date of declaration as disaster affected area under section 6 from any financial institution owned or fully controlled by the Government.

(2) Where the rescheduling of the loan is made under sub-section (1), the fisherman shall be bound to repay such loan with interest to the financial institution concerned within the period allowed by Commission:

Provided that the Commission may, on application by the fisherman, exempt repayment for such rescheduled period, by order, for reasons to be recorded:

Provided further that the fisherman shall be bound to repay the same on such later dates as may be fixed by the Commission.

Where this provision sits

ActThe Kerala Fishermen Debt Relief Commission Act, 2008
Section10
Marginal noteRe-scheduling of loans taken by a fisherman from financial institutions
JurisdictionState of Kerala
StatusIn force as published by the source

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