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] [Entire Act]

State of Tamilnadu - Section

Section 5 in Tamil Nadu Pawnbrokers Rules, 1943

5. Charges allowed to pawnbrokers.

(1)
(a)A pawnbroker may, in addition to the cost of revenue stamp, demand and take from the pawner a sum not exceeding 35 paise for any loan not exceeding rupees 250 and 70 paise for loan exceeding rupees 250 for incidental expenses connected with the advance of such loan.
(b)A pawnbroker shall supply to the pawner free of cost the pawn-ticket and the forms of declaration referred to in clauses (i), (iii) and (iv), respectively, of clause (b) of sub-section (1) of section 10.
(2)The fee which may be charged by a pawnbroker for the inspection of the entry of a sale in the sale book of pledges referred to in sub-clause (ii) of clause (b) of sub-section (1) of section 10 shall be five paise.,
(3)
(a)The fee which may be charged by a pawnbroker for a statement of accounts furnished by him under clause (d) of sub-section (1) of section 10 shall be as follows: -
(i) If the amount of loan does not exceed Rs.50 0.5
(ii) If the amount of loan exceeds Rs.50, but doesnot exceed Rs.100 0.10
(iii) If the amount of the loan exceeds Rs.100, butdoes not exceed Rs.300 0.20
(iv) If the amount of the loan exceeds Rs.300, butdoes not exceed Rs.500 0.25
(v) If the amount of the loan exceeds Rs.500, butdoes not exceed Rs.1,000 0.35
(vi) If the amount of the loan exceeds Rs.1000 0.50
Explanation. - The fee shall be charged separately in respect of each loan and each requisition. Thus, the fee relating to two separate loans of Rs.120 and Rs.350 will be forty-five paise.
(b)The fee shall be recoverable by the pawnbroker as if it were included in the loan, but no interest shall be charged on such fee.
(4)Where a pawner redeems the pledge before it is actually disposed by sale in public auction, the pawnbroker may demand and take from him the charges, if any, incurred by the pawnbroker in bringing the pledge to auction.
(5)It shall be open to the pawners to seek the help of, in the case of the city of [Chennai] [Substituted for the word 'Madras' by section 3 of the City of Madras (Alteration of Name) Act, 1996 (Tamil Nadu Act 28 of 1996).] the Tahsildar concerned or the Personal Assistant (General) to the Collector of [Chennai] [Substituted for the word 'Madras' by section 3 of the City of Madras (Alteration of Name) Act, 1996 (Tamil Nadu Act 28 of 1996).] or the Revenue Divisional Officer in other district, for redemption of their pledges. The Tahsildar concerned or the Personal Assistant (General) to the Collector of [Chennai] [Substituted for the word 'Madras' by section 3 of the City of Madras (Alteration of Name) Act, 1996 (Tamil Nadu Act 28 of 1996).] or the Revenue Divisional Officer, in other districts, when so approached by the pawners for the redemption of their pledged articles, shall cause to verify the accounts of the pawnbrokers as well as the receipts of the pawners, determine the amount of principal and the interest due from such pawners from the date of pledge till the period so required by the pawners after deducting the interest, if any, collected by the pawnbrokers and collect the amount so arrived from the pawners, after giving a token receipts to the pawners for the amounts received. The amounts so obtained from the pawner for redemption may be entered in the subsidiary cash book maintained in the Taluk Office. After redemption of the articles, they may be handed over to the pawner, after collecting the token receipt. The receipt received from the pawnbroker for the redemption of the articles may be pasted in the subsidiary cash book maintained in the Taluk Office.