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[Cites 0, Cited by 0] [Section 116] [Entire Act]

NCT Delhi - Subsection

Section 116(3) in The Delhi Agricultural Produce Marketing (Regulation) Act, 1998

(3)Any rule made under this section may provide that if purchaser fails to make the payment forthwith as required by sub-section (6) of Section 61, he shall be liable to pay interest from the date of sale to the date of payment as such rate not being in excess of the maximum rate of interest fixed for unsecured loans by banking institutions. If payment is not made within thirty days from the date on which the agricultural produce is sold, the principal and interest shall be recoverable by the Marketing Committee from the purchaser in the manner provided in Section 113.