Section 8 in The M.P. Anusuchit Jan Jati Sahukar Viniyam, 1972
8. Duty of money-lender to keep accounts and furnish copies.
(1)Every money-lender shall keep and maintain a cashbook and ledger in such form and in such manner as may be prescribed.(2)Every money-lender shall deliver or cause to be delivered to the debtor within thirty days from the date on which a loan is made, a statement in the chief language of the locality showing in clear and distinct terms the amount and date of the loan and of its maturity, the nature of security, if any, for the loan, the name and address of the debtor and of the money-lender and the rate of interest charged :Provided that no such statement shall be required to be delivered to a debtor if he is supplied by the money-lender with a pass-book which shall be in the prescribed form and shall contain an up-to-date account of the transactions with the debtor.(3)Upon repayment of a loan in full, every money-lender shall mark indelibly every paper signed by the debtor with words indicating payment or cancellation and discharge every mortgage, restore every pledge, return every note and cancel or reassign every assignment given by the debtor as security for the loan.(4)No money-lender shall accept by way of security for a loan, from a debtor his standing crop, whether existing or future, or his agricultural cattle.(5)No money-lender shall receive any payment in cash or kind from a debtor on account of any loan unless he grants to such debtor a signed receipt for the payment, duly witnessed by such authority as may be prescribed.(6)(a)No money-lender shall accept from a debtor any article as a pawn, pledge or security for a loan unless he grants to such debtor a signed receipt for the same with its description, estimated value, the amount of loan advanced against it and such other particulars as may be prescribed.(b)The documents executed by the debtor in favour of a money-lender shall be duly witnessed by the authority prescribed under sub-section (5).(7)No money-lender shall get the loan advanced by him to a debtor renewed at any time during the currency of the loan by including in the amount originally advanced the interest accruing thereon or otherwise so as to defeat the provisions of these Regulations or any other law for the time being in force.
