State Act

THE RAJASTHAN MONEY-LENDERS ACT, 1963

33. Reopening of transactions or accounts already taken — Notwithstanding anything contained in any law for the time being in force, the court shall, in any suit to which this Act applies, whether heard ex party or otherwise. (a) re-open any transaction or any account already taken between; the parties; (b) taken account between the parties; (c) reduce the amount charged to the debtor in respect of any excessive interest; (d) if on faking accounts it is found that the money-lender has received more than what is due him, pass a decree in favour of the debtor in respect of such amount: Provided that, in the exercise of these powers, the court shall not— (i) re-open any adjustment or agreement purporting to close previous dealings and to create new obligations which have been entered into by the parties or any person through whom they claim at a date more than six years from the date of the suit; (ii) do anything which affects any decree of a court. Explanation - For the purpose of this section excessive interest means interest at a rate which contravenes any of the provisions of section 29.