Section 25 in The Himachal Pradesh Debt Reduction Act, 1976
25. Penalty for non-compliance with the provisions of section 24.
- Notwithstanding anything contained in any other enactment for the time being in force -(a)in any suit or proceeding relating to a loan if the debtor objects that the creditor has not complied with the provisions of section 24, the court shall determine such objections before deciding the claim on merits;(b)if the court finds that the provisions of clause (a) of sub-section (1) of section 24 have not been complied with by the creditor, it may, if the creditor's claim has been established in whole or in part, disallow the whole ora portion of the interest found due, as it may deem reasonable in the circumstances of the case, and shall disallow the cost;(c)if the court finds that the provisions of clause (b) of sub-section (1) of section 24 have not been complied with by the creditor the court shall, in computing the amount of interest due on the loan, exclude every period for which the creditor has failed to comply with such provisions:Provided that if the creditor has, after the time prescribed in the said clause, furnished the account and satisfied the court that he had sufficient cause for not furnishing earlier, the court, notwithstanding such ommission, shall include any such period or periods for the purpose of computing the interest:Provided further that if the creditor has submitted an account which is not full and correct, and satisfies the court that the ommission or error was bonafide and due to inadvertence, the court shall, notwithstanding such ommission or error, include any such period or periods for purpose of computing interest.Explanation. - A person who has kept his accounts and submitted his six monthly statement of accounts in the form and manner prescribed in clauses (a) and (b) of sub-section (1) of section 24, he shall be held to have complied with the provisions of these clauses in respect of any errors or ommissions if the court finds that the errors or ommissions were accidental and not material and that the accounts have been kept in good faith with the intention of complying with the provisions of these clauses.
