Legal Document View

Unlock Advanced Research with PRISMAI

- Know your Kanoon - Doc Gen Hub - Counter Argument - Case Predict AI - Talk with IK Doc - ...
Upgrade to Premium
[Cites 0, Cited by 9] [Section 48] [Entire Act]

Union of India - Subsection

Section 48(2) in The Provincial Insolvency Act, 1920

(2)Where a debt which has been proved under this Act includes interest or any pecuniary consideration in lieu of interest, the interest or consideration shall, for the purposes of dividend, be calculated at a rate not exceeding six per centum per annum, without prejudice to the right of a creditor to receive out of the debtors estate any higher rate of interest to which he may be entitled after all the debts proved have been paid in full.