Section 27 in The (Bihar State) Aid to Industries Act, 1956
27. Termination of hiring on payment of cost of machinery.
- When after credit has been given for the amount deposited under Section 23, the hirer has paid in full all the instalments of rent mentioned in clause (a) of Section 21 and the amount of interest, cost and other charges payable by him under this Chapter, he shall become the owner of the machinery and shall thereupon remove from the same the metal plate mentioned in clause (e) of Section 22 :Provided that if, at any time during the hiring, the hirer pays in advance the remaining instalments of rent the interest payable in respect thereof shall be remitted.
