Legal Document View

Unlock Advanced Research with PRISMAI

- Know your Kanoon - Doc Gen Hub - Counter Argument - Case Predict AI - Talk with IK Doc - ...
Upgrade to Premium
[Cites 0, Cited by 1] [Section 14] [Entire Act]

State of Maharashtra - Subsection

Section 14(1) in The Maharashtra Debt Relief Act, 1975

(1)Notwithstanding anything contained in any other law for the time being in force or in any contract or other instrument having force by virtue of any such law, no debt of a worker who holds immovable property the market value of which exceeds twenty thousand rupees but does not exceed forty thousand rupees together with interest, if any, outstanding on the appointed day, shall stand discharged or shall be deemed ever to have stood discharged on the appointed day; and except as hereinbefore provided, all such debts shall stand revived as provided by section 3 and shall continue to exist until they are wholly discharged; but the payment or recovery of any such debts shall, subject to the provisions of this section, nevertheless stand stayed [during the period this chapter remain in force;] [These words were substituted for the words 'during the period this Act remains in force' by Maharashtra 18 of 1979, Section 4(a).] and it shall not be lawful for any creditor to recover any such debt or any part thereof or any interest remaining unpaid on the appointed day during such period, and the provisions of Chapter V shall apply to the execution of decrees in relation to such debt against any such workers as they apply to the execution of decrees against small farmers.