Legal Document View

Unlock Advanced Research with PRISMAI

- Know your Kanoon - Doc Gen Hub - Counter Argument - Case Predict AI - Talk with IK Doc - ...
Upgrade to Premium
[Cites 0, Cited by 2] [Entire Act]

State of Odisha - Section

Section 12 in The Orissa Money-lenders' Act, 1939

12. Court may order payment of amount due on mortgage by instalments.

- Notwithstanding anything to the contrary contained in any other law or in anything having the force of law or in any contract between the money-lender and the person to whom the loan was advanced, the Court may at the time of passing the decree, in any suit relating to a mortgage by which any loan is secured, order that payment of any amount decreed in such suit shall, subject to such conditions as the Court may impose, be made by instalmentsProvided that before fixing the instalments the Court shall take into consideration the re-paying capacity of the judgement-debtor and shall satisfy itself that the judgement-debtor is in a position to pay the instalments on the due dates :Provided further that simple interest at 6 per centum per annum may be allowed on the decretal amount till the date of payment or sale.