(7)If any money-lender fails to declare the particulars of the loan advanced by him within the period specified in the notification as required under sub section (6) or within such extended period, as may be allowed by the State Government, it shall be presumed that he has not advanced any loan to such member and any claim to such loan or the interest due thereon shall notwithstanding anything to the contrary contained in any other law for the time being in force, not be entertained in any court or Conciliation Board.
