Section 20 in The U.P. Regulation Of Money-Lending Act, 1976
20. Deposit in Court of money due to money-lenders. -
(1)A debtor may, at any time, tender to, a money-lender any sum of money payable by him to the money-lender in respect of a loan by way of principal, interest or both , whether the sum has become due or not.(2)If the money-lender refuses to accept any sum so tendered, the debtor may deposit the sum in Court of Munsif having territorial jurisdiction, to the account of the money lender.(3)The Court shall thereupon cause written notice of the deposit to be served on the money-lender, and he may, on presenting a petition stating the sum then due in respect of the loan, and his willingness to accept the said sum, receive and appropriate it first towards the interest and the residue, if any, towards, the principal.
