Section 9 in The M.P. Anusuchit Jan Jati Sahukar Viniyam, 1972
9. Mode of crediting payments made by the debtor.
- All made by the debtor shall be credited first in the account of interest and the residue, if any, of any payment more than sufficient to discharge the balance of interest due at the time, it is made, shall be credited to the debtor in the account of the principal or in the alternative such of the payments shall be credited first in the account of principal as the money-lender may determine and the remaining payments shall be credited in the account of interest calculated. When the balance of interest is fully discharged, the residue of the payment, if any, shall be further credited in the account of the principal.
