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Section 5: Prohibition against disposal of pledged property, etc. and penalty.

The Maharashtra Debt Relief Act, 1975State Act of Maharashtra · Act 3 of 1976

(1) No creditor shall after the appointed day, damage, destroy or tamper with any property pledged or mortgaged with him or any document connected therewith or part with or otherwise deal with the same except as provided in this Act.

(2) Any person who contravenes the provisions of sub-section (1) shall, on conviction, be punished with imprisonment for a term which may extend to three years and with fine which may extend to one thousand rupees:

Provided that, in the absence of special and adequate reasons to the contrary to be mentioned in the judgment of the Court, such imprisonment shall not be less than six months, and fine shall not be less than two hundred rupees.

Where this provision sits

ActThe Maharashtra Debt Relief Act, 1975
Section5
Marginal noteProhibition against disposal of pledged property, etc. and penalty.
JurisdictionState of Maharashtra
StatusIn force as published by the source

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