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[Cites 0, Cited by 0] [Section 11] [Entire Act]

State of Telangana - Subsection

Section 11(1) in Telangana Pawn Brokers Act, 2002

(1)Every Pawn Broker shall,-
(a)regularly record and maintain or cause to be recorded and maintained, in a pledge book in the prescribed form, an account showing for each debtor separately,-
(i)the name and address of the Pawner;
(ii)a full and detailed description of the article or each of the articles taken in pawn;
(iii)the date of the loan, the amount of the principal of the loan and the rate of interest charged on the loan;
(iv)the time agreed upon for the redemption of the pawn; and
(v)the amount of every payment received by the Pawn Broker in respect of the loan, and the date of such payment;
(b)keep and use in his business, the following documents and books as may be prescribed and enter therein from time to time, as occasion requires, in a fair and legible manner, such particulars and in accordance with such directions, as may be prescribed,-
(i)pawn-ticket;
(ii)sale book of pledges;
(iii)declaration of pawn-ticket lost; and
(iv)receipt on redemption of pledge;
(c)give to the pawner or his agent a receipt for every sum paid by him, duly signed and, if necessary, stamped at the time of such payment; and
(d)on a requisition in writing made by the pawner, furnish to him or to any person mentioned by him, a statement of account signed by himself or his agent, showing the particulars referred to in clause (a) and also the amount which remains outstanding on account of the principal and of interest, and may charge such sum as the State Government may prescribe as fee therefor.