A debtor shall not be liable to pay interest upon any loan during the period for which no suit or proceeding could be instituted or application made for recovery of the loan or for execution of a decree in relation thereto or for which a suit, application or proceeding for recovery of the loan was stayed.
Section 5: Remission of interest.
The Meghalaya Rural Indebtedness Relief Act,1976 (Act No.5 of 1976)State Act of Meghalaya · Act 5 of 1976
Where this provision sits
| Act | The Meghalaya Rural Indebtedness Relief Act,1976 (Act No.5 of 1976) |
|---|---|
| Section | 5 |
| Marginal note | Remission of interest. |
| Jurisdiction | State of Meghalaya |
| Status | In force as published by the source |
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