Section 2(9) in The U.P. Debt Redemption Act, 1940
(9)"loan" means an advance in cash or kind made before the first day of June, 1940; recoverable from an agriculturist or a workman or from any such person and other persons jointly or from the property of an agriculturist or workman and includes any transaction which in substance amounts to such advance, but docs not includes an advance to the liability for the repayment of which has by a contract with the borrower or his heir or successor by sale in execution of a decree been transferred to another person or an advance by the Central or [State Government] [Substituted by the A.O. 1950 for 'Provl. Government'] or by a local authority authorized by the [State Government] [Substituted by the A.O. 1950 for 'Provl. Government'] to make advances or by a cooperative society or by a scheduled bank;Provided that an advance recoverable from an agriculturist or from an agriculturist and other persons jointly shall not be deemed to be a loan for the purpose of this Act unless such advance was made to an agriculturist or to an agriculturist and other persons jointly.
