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[Cites 0, Cited by 0] [Section 12(4)] [Section 12] [Entire Act]

State of Tamilnadu - Subsection

Section 12(4)(b) in Tamil Nadu Pawn Brokers Act, 1943

(b)If [***] [The words 'on such demand' were omitted by section 8(2) the Tamil Nadu Pawnbroker (Amendment) Act, 1993 (Tamil Nadu Act 1 of 1994)] it appears that the sale of the pledge has resulted in a surplus, but that within twelve months before such sale, the sale of any other pledge or pledges of the same person has resulted in a deficit, the pawnbroker may set off the deficit against the surplus and shall be liable to pay only the balance, if any, after such set off.