Section 13(1) in Tamil Nadu Pawn Brokers Act, 1943
(1)[Where a pledge is lost by theft or destroyed or damaged by or in consequence of fire] [These words were substituted for the words 'where a pledge is destroyed or damaged by or in consequence of fire' by section 10 of the Tamil Nadu pawnbrokers (Amendment) Act, 1961 (Tamil Nadu Act 31 of 1961).], the pawnbroker shall nevertheless be liable on application made within the period during which the pledge would have been redeemable to pay the value of the pledge, after deducting the amount of the principal and interest.Explanation. - for the purpose of this sub-section, the value of the pledge shall be its estimated value (if any) entered in the pledged book at the time of the pawn together with interest on the amount of the principal and shall, in no case, be less than the aggregate of the amount of the principal and interest and twenty-five per cent on the amount of the principal.
