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[Cites 0, Cited by 0] [Section 16] [Entire Act]

State of Goa - Subsection

Section 16(2) in The Goa, Daman and Diu Debt Relief Act, 1980

(2)All moneys paid by or on account of the debtor to the creditor or on his account and all profits, service or other advantages of every description received by the creditor in the course of the transaction (estimated, if necessary, at such money value as the Board may determine in the manner prescribed) shall be credited first in the interest account as provided in clause (c) of sub-section (1), and, when the amounts so credited are found to be in excess of the debit balance in the interest account, such excess amount shall be credited to the debtor in the principal account.