Section 3(1) in Tamil Nadu Debtors' Protection Act, 1934
(1)Every creditor shall-(a)regularly record and maintain or cause to be recorded and maintained, an account showing for each debtor separately-(i)the date of the loan, the amount of the principal of the loan, and the rate per cent per annum of interest charged on the loan; and(ii)the amount of every payment received by the creditor in respect of the loan, and the date of such payment;(b)give to the debtor or his agent, a receipt for every sum paid by him, duly signed and if necessary, stamped at the time of such payment; and(c)on requisition in writing made by the debtor, furnish to the debtor or, if he so requires, to any person mentioned by him in that behalf in his requisition, a statement of account signed by himself or his agent showing the particulars referred to in clause (a) and also the amount which remains outstanding on account of the principal and of interest and charge such sum as the State Government may prescribe as fee therefor.
