Lawgist5Amount of interest to be deposited in certain cases of conditional sales under Bengal Regulations. Proviso 6. Rate of interest on future adjustments of accounts. Provis
Whenever, under the 1Regulations of the Bengal Code, a deposit may be made of the principal sum and interest due upon any mortgage or conditional sale of land there after to be entered into the amount of interest to be deposited shall be at the rate stipulated in the contract, or, if no rate has been stipulated and interest be payable under the terms of the contract, at the rate of twelve percentum per annum:
Provided that, in the latter case, the amount deposited shall be subject to the decision of the Court as to the rate at which interest shall be calculated.
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1. See Bengal Reg. 1 of 1798, s. 2. This Regulation is, however, now in force only in the Sonthal Parganas and with the exception of the Parts which relate to interest, the Regulation is also in force in the Punjab.
- 1 [Repealed.]
- 2 Rate of interest to be decreed by Courts
- 3 Rate of interest upon a judgment or decree
- 4 Contracts for usufruct of property in lieu of interest
- 5 Amount of interest to be deposited in certain cases of conditional sales under Bengal Regulations. Proviso 6. Rate of interest on future adjustments of accounts. Provis
- 6 Rate of interest on future adjustments of accounts
- 7 Repealed.
- 8 Repealed.
- 9 Repealed.
