Legal Document View

Unlock Advanced Research with PRISMAI

Integrated with over 4 crore judgments and laws — designed for legal practitioners, researchers, students and institutions

- Know your Kanoon - Doc Gen Hub - Counter Argument - Case Predict AI - Talk with IK Doc - ...
Upgrade to Premium
[Cites 0, Cited by 0] [Section 21(2)] [Section 21] [Entire Act]

State of Gujarat - Subsection

Section 21(2)(a) in Gujarat Money-Lenders Act, 2011

(a)deliver or cause to be delivered to the debtor on the same day on which a loan is advanced -
(i)a statement in the prescribed form containing an up-to-date and true account of the transaction with the debtor, the amount (both in words and figures) and the date of the loan, the date of its maturity, the nature of security, if any, for the loan, the rate of interest charged and the names and full addresses of the debtor and the Money-Lender and such other particulars as may be prescribed; and if the loan advanced is in kind, the statement shall show, in place of the amount of the loan and the rate of interest, the correct value of the thing or commodity on the date on which it is advanced and the quantity of the thing or commodity in excess of the loan recoverable in lieu of interest;
(ii)a pass book in the prescribed form containing an up to date and true account of all transactions relating to the loan;