Section 22(4) in The Maharashtra Agricultural Debtors Relief Act, 1947
(4)In the case of transactions which commenced on or after the 1st January, 1940, in the account of interest there shall be debited to the debtor simple interest on the balance of principal for the time being outstanding at the rate agreed upon between the parties, or at the rate allowed under any decree passed between the parties, or at rate not exceeding 6 per cent per annum, whichever is the lowest.
