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State of Gujarat - Section

Section 23 in The Bombay Money Lenders Act, 1946

23. Power of Court to limit interest recoverable in certain cases.

- Notwithstanding anything contained in any agreement or any law for the time being in force, no Court shall in respect of any loan whether advanced before or after the date on which this Act comes into force, decree, on account of interest, a sum greater than the principal of the loan due on the date of the decree.