Section 14 in The M.P. Anusuchit Jan Jati Sahukar Viniyam, 1972
14. Power of Court to limit interest to the extent of principal of loan.
- Notwithstanding anything contained in any agreement or any law for the time being in force, no Court shall, in respect of any loan whether advanced before or after the date on which these Regulations come into force decree on account of arrears of interest, a sum greater than the principal of the loan due on the date of the decree.(2)If the Court is of opinion that the amount of interest of principal has been recovered by the creditor in excess of those permissible under these Regulations, it may order to refund of excess amount of interest or principal as the case may be.
