Section 30(1) in The Bhopal Debt Redemption Act, 1955
(1)Where any person advances a loan to an agriculturist or a workman after the commencement of this Act, he shall-(a)if the debtor ordinarily resides within the jurisdiction of a Gaon Sabha, established under the Bhopal Panchayat Raj Act, 1952 (Bhopal Act No. II of 1953), execute the agreement for the advance of a loan and make the payment in the presence of an educated or literate person a Pradhan or Up-Pradhan or a member of a Gaon Panchayat elected under Section 2 of the Bhopal State Pancyahat Raj Act, 1952 (Act No. II of 1953), whose signature or thumb impression shall be obtained on the said agreement as one of the witnesses;(b)regularly record and maintain a correct account for each agriculturist or workman debtor of all transactions relating to each loan advanced to that debtor, in such manner as the State Government may prescribe; and(c)supply each agriculturist or workman debtor every year with a full and correct statement of account signed by the creditor or his agent of any balance of amount that may be outstanding against such debtor on account of each separate loan on such date as the State Government may prescribe in this behalf. Such statement of account shall include all transactions entered into during the year to which the statement relates and shall contain such details and particulars as the State Government may prescribe. It shall be supplied to the debtor within one month of the aforesaid date in such form and in such manner as the State Government may prescribe :Provided that where there is a current account, it shall be sufficient for the creditor for the purposes of clause (b) to keep one account of all transactions relating thereto and for the purposes of clause (c) to furnish particulars of the balance due on the whole account.
