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 0] [Entire Act]

State of Tamilnadu - Section

Section 9 in Tamil Nadu Money-Lenders Rules, 1959

9. Fees.

- The fee which may be charged by a money-lender for a statement of account furnished by him under rule 8 shall be as follows : -
    Rs. P.
1 If the principal amount of the loan does notexceed Rs. 50 0-06
2 If the principal amount of the loan exceeds Rs.50, but does not exceed Rs. 100 0-12
3 If the principal amount of the loan exceeds Rs.100, but does not exceed Rs. 300 0-19
4 If the principal amount of the loan exceeds Rs.300, but does not exceed Rs. 500 0-37
5 If the principal amount of the loan exceeds Rs.500, but does not exceed Rs. 1,000 0-43
6 If the principal amount of the loan exceeds Rs.1,000 0-50
Explanation. - The fee shall be charged separately in respect of each loan for each requisition.Illustration. - (a) The fee relating to two separate loans of Rs. 120 and Rs. 350 will be 44 naye paise.
(b)If the statement of account is furnished by post, the money-lender may also charge such additional expenses as are actually incurred by him for furnishing it by post.
(c)The fee and the postal charges, if any, shall, on demand by the moneylender, be payable in advance or shall be recoverable by the moneylender as if it were included in the loan, but no interest shall be charged on such fee or charges.