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[Cites 0, Cited by 0] [Section 25] [Entire Act]

State of Arunachal Pradesh - Subsection

Section 25(1) in Arunachal Pradesh Money Lending (Regulation) Act, 2018

(1)Every money-lender shall deliver or cause to be delivered every year to each of his debtors a legible statement of such debtor's account signed by the money-lender or his agent of any account that may be outstanding against such debtor. The statement shall show-
(i)the amount of principal, the amount of interest and the amount of fees referred to in section 26, separately, due to the money-lender at the beginning of the year;
(ii)the total amount of loans advanced during the year;
(iii)the total amount of repayments received during the year; and
(iv)the amounts of principal and interest due at the end of the year.
The statement shall be signed by the money-lender or his agent, and shall be in any recognized language. It shall be in such form and shall be supplied to the debtor on or before such date as may be prescribed:Provided that, no such statement shall be required to be delivered to a debtor if he is supplied by the money-lender with a pass book which shall be in the prescribed form and shall contain an up to date account of the transactions with the debtor.The money-lender shall on or before the aforesaid date deliver or cause to be delivered a statement containing the particulars specified in clauses (t) to (iv) to the Assistant Registrar.