Section 8(4) in Tamil Nadu Agriculturists Relief Act, 1938
(4)Subject to the provisions of sections 22 to 25, nothing contained in subsections [* * *] [The expression '(1)' was omitted by section 7(iii) of the Tamil Nadu Agriculturists Relief (Amend.) Act, 1972 (Tamil Nadu Act 8 of 1973)], (2) and (3) shall be deemed to require the creditor to refund any sum which has been paid to him, or to increase the liability of a debtor to pay any sum in excess of the amount which would have been payable by him if this Act had not been passed.[Explanation I. [The original Explanation was numbered as Explanation 111 and Explanations I and II were inserted by section 4(i) of the Tamil Nadu Agriculturists Relief (Amendment) Act, 1948 (Tamil Nadu Act XXIII of 1948).] - In determining the amount repayable by a debtor under this section, every payment made by him shall be credited towards the principal, [notwithstanding that he has expressly stated] in writing that such payment shall be in reduction of interest.][Explanation II. [The original Explanation was numbered as Explanation III and Explanations I and II were inserted by section 4(i) of the Tamil Nadu Agriculturists Relief (Amendment) Act, 1948 (Tamil Nadu Act XXIII of 1948).] - Where the principal was borrowed in cash with an agreement to repay it in kind, the debtor shall, notwithstanding such agreement, be entitled to repay the debt in cash, after deducting the value of all payments made by him in kind, at the rate, if any, stipulated in such agreement, or if there is no such stipulation, at the market rate prevailing at the time of each payment.][Explanation III. [The original Explanation was numbered as Explanation HI and Explanations I and II were inserted by section 4(i) of the Tamil Nadu Agriculturists Relief (Amendment) Act, 1948 (Tamil Nadu Act XXIII of 1948).] - Where a debt has been renewed or included in a fresh document executed [before, on or after the 1st March 1972], [whether by the same debtor or by his heirs, legal representatives or assigns or by any other person acting on his behalf or in his interest and whether in favour of the same creditor or of any other person acting on his behalf or in his interest), the principal originally advanced together with such sums, if any, as have been subsequently advanced as principal shall alone be treated as the principal sum repayable under this section.] [This Explanation was added by section 2(b) of the Tamil Nadu Agriculturists Relief (Amendment) Act, 1948 (Tamil Nadu Act XXIII of 1948).][Explanation IV. [This Explanation was added by section 2(b) of the Tamil Nadu Agriculturists Relief (Amendment) Act, 1948 (Tamil Nadu Act XXIII of 1948).] - Where a debt has been split up, whether [before, on or after the 1st March 1972], among the heirs, legal representatives or assigns of a debtor or of a creditor and fresh documents have been executed in respect of the different portions of such debt, the provisions of this section shall continue to apply in respect of each of the different portions.]
