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[Cites 0, Cited by 0] [Section 28] [Entire Act]

State of Telangana - Subsection

Section 28(5) in Telangana Jagirdars Debt Settlement Act, 1952

(5)All money paid by or on account of the debtor to the creditor or on his account and all profits, services or other advantages of every description received by the creditor in the course of the transactions (estimated, if necessary, at such money value as the Board in its discretion may determine) shall be credited first in the account of interest, and when any payment is more than sufficient to discharge the balance of interest due at the rate specified in sub-sections (2), (3) or (4) as the case may be the residue of such payment shall be credited to the debtor in the account of principal.