State Act

THE RAJASTHAN MONEY-LENDERS ACT, 1963

35. Deposit In court of money due to money-lender -- (1) At any time debtor may tender to a money-lender any sum of money due from to the money-lender in respect of a loan by way of principal, interest or both or may remit to him such sum of money by money-order. (2) If the money-lender refuses to accept any sum so tendered or remitted, the debtor may deposit the said sum in court to the account of the money-lender. (3) The court shall thereupon cause written notice of the deposit to be served on the money-lender, and he may, on presenting a petition, verified in the manner provided for the verification of a plaint and stating the sum then due in respect of the loan and his willingness to accept the money so deposited, receive the same and appropriate it first towards the interest and the residue, if any, towards the principal: Provided that in accepting any sum deposited under this section, the money-lender shall not be bound by any statement made by the debtor while depositing the same. (4) A deposit made under sub-section (2) shall operate as an acquaintance for the amount so deposited in the same manner and to the same extent as if that amount had been received by the money-lender to whose Credit the deposit was made, on the date of such deposit.