State Act
17
Section 17. Prohibition regarding rate and amount of interest.
The Himachal Pradesh Relief of Agricultural Indebtedness Act, 1976
Act no. 17 of 19761976In forceHimachal Pradesh (State Act)
17. Prohibition regarding rate and amount of interest.- 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: