Section 37(2) in The M.P. Krishi Upaj Mandi Adhiniyam, 1972
(2)[ (a) The price of the agricultural produce bought in the market yard shall be paid on the same day to the seller at the market yard;(b)In the case purchaser does not make payment under clause (a), he shall be liable to make additional payment at the rate of one percent per day of the total price of the agricultural produce payable to the seller within five days;(c)In case the purchaser does not make payment with additional payment to the seller under clauses (a) and (b) above within five days from the day of such purchase, his licence shall be deemed to have been cancelled on the sixth day and he or his relative shall not be granted any licence under this Act tor a period of one year from the date of such cancellation.Explanation. - For the purpose of this clause "relative" means the relative as specified in the explanation in clause (a) of sub-section (1) of Section 11.] [Substituted by M.P. Act No. 24 of 1986 (w.e.f. 21-7-1986).]
