Section 65 in Haryana Co-operative Societies Act, 1984
65. Limitation of interest.
- Notwithstanding anything contained in this Act, rules, bye-laws or in any agreement in this behalf, a co-operative society shall not recover interest on short term loans given to members in excess of the principal amount of the loan advanced.Explanation. - For the purpose of this section, short term loan means a loan granted for a period upto fifteen months.
