18. Duty of money-lender to keep accounts and furnish copies.
(1)Every money-lender shall keep and maintain a cash book and a ledger in such form and in such manner as may be prescribed.(2)Every money-lender shall-(a)deliver or cause to be delivered -(i)to the debtor within 30 days from the date on which a loan is made, a statement in any recognized language showing in clear and distinct terms the amount and date of the loan and of its maturity, the nature of the security, if any, for the loan, the name and address of the debtor and of the money-lender and the rate of interest charged:[Provided that no such statement shall be required to be delivered to a debtor if he is supplied by the money-lender with a pass book which shall be in the prescribed form and shall contain an up-to-date account of the transactions with the debtor;] [This proviso was added by Bombay 57 of 1949, Section 2(a).](ii)to the Assistant Registrar; within the said period [a statement containing the particulars referred to in clause (a)(i)] [These words, brackets, letter and figure were substituted for the words 'a copy of the said statement', by Bombay 57 of 1949, Section 2(b).];(b)upon repayment of a loan in full, mark indelibly every paper signed by the debtor with words indicating payment or cancellation, and discharge every mortgage, restore every pledge, return every note and cancel or reassign every assignment given by the debtor as security for the loan.(2A)[ Notwithstanding anything contained in clause (a) (ii) of sub-section (2), the State Government may by order in writing permit such class of money-lenders as may be specified in the order to deliver or cause to be delivered to the Assistant Registrar a statement containing the particulars referred to in clause (a) (i) of sub-section (2) in respect of all loans made during every such period as may be specified in the order. And upon the issue of such order a money-lender electing to deliver a periodical statement as provided in this sub-section shall deliver or cause to be delivered the same within a period of 30 days from the date of expiry of every such period.] [This sub-section was inserted by Bombay 13 of 1951, Section 5.](3)No money-lender shall receive any payment from a debtor on account of any loan without giving him a plain and complete receipt for the payment.(4)No money-lender shall accept from a debtor any article as a pawn, pledge or security for a loan without giving him a plain signed receipt for the same with its description, estimated value, the amount of loan advanced against it and such other particulars as may be prescribed. [Such money-lender shall maintain the duplicates of such receipts in a separate register.] [These words were added by Bombay 50 of 1959, Section 4(1).]
