Section 9 in The Himachal Pradesh Debt Reduction Act, 1976
9. Rate of interest on decrees.
(1)Notwithstanding anything contained in section 34 of the Code of Civil Procedure, 1908, the court shall not order future interest on the aggregate sum adjudged in a decree to which this Act applies or any decree amended under the provisions of this Act, at a rate exceeding three per cent per annum simple interest:Provided that where future interest has not been allowed in the original decree it shall not be allowed in the decree amended under the provisions of this Act.(2)If in a decree to be amended under the provisions of this Act, a higher rate of future interest has been allowed by the court passing the decree, such rate shall, with effect from the date of the decree, be reduced to a rate permitted by the provisions of sub-section (1) and the decree shall be amended accordingly.(3)When a decree is executed by the grant of a mortgage under the second proviso to sub-section (1) and section 11 then, notwithstanding a different rate in the decree, the rate of interest shall, from the date when such mortgage is granted, be deemed to be three per-cent per annum.
