GMLA 28 — Power of Court to limit interest recoverable in certain cases.

Gujarat Money-Lenders Act, 2011

Statutory text

Notwithstanding anything contained in any agreement or any law for the time being in force, no court shall, in respect of any loan whether advanced before or after the appointed day, decree, on account of interest, a sum greater than the principal of the loan due on the date of the decree.

Back to GMLA