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[Cites 0, Cited by 0] [Section 19] [Entire Act]

State of Goa - Subsection

Section 19(1) in The Goa, Daman and Diu Debt Relief Act, 1980

(1)If in the course of taking accounts before the Board, it is found that any of the creditors has received from his debtor twice or more than twice the amount of the principal in cash or in kind, the Board shall pass an order that the debt shall be deemed to have been fully discharged and shall further declare that the debtor shall, from the date of the order, be in lawful possession of the property secured for the debt:Provided that if the creditor has received from his debtor more than twice the amount of the principal, the Board shall also pass an order directing the creditor to refund the amount received in excess of twice the amount of principal to the debtor.