(4)Any loan in respect of which the Money-Lender or any person has realized from the debtor an interest at rates exceeding the maximum rates fixed by the State Government under sub-section (1), shall stand discharged and the amount of excessive interest, if any, so realized shall be refunded by the Money-Lender or any person, as the case may be, to the debtor. If the Money-Lender or any person fails to pay such amount of excessive interest to the debtor, it shall be recoverable from him as an arrears of land revenue, and on recovery thereof, it shall be paid to the debtor.
