Section 31State of West Bengal Act
Section 31: [ Prohibition of interest on decretal amount.-] [[Sec. 31 Substituted by W.B. Act 21 of 1965, which was earlier as under:
[ Prohibition of interest on decretal amount.-] [[Sec. 31 Substituted by W.B. Act 21 of 1965, which was earlier as under:-
'31. Prohibition of interest on decretal amount.- Notwithstanding anything contained in any law for the time being in force, no Court shall, in any decree passed in any suit to which this Act applies-(a)
if the loan to which the decree relates was advanced before the commencement of this Act, allow any interest on the decretal amount, or(b)
if the loan to which the decree relates was advanced after the commencement of this Act, allow any interest other than interest not exceeding six per centum per annum on the principal sum adjudged.'.]] Notwithstanding anything contained in any law for the time being in force or in any agreement, no Court shall, in any decree passed in any suit to which this Act applies or in any suit brought by a [borrower other than a borrower of commercial loan] [Words Substituted for the word 'borrower' by W.B. Act 4 of 1981, w.e.f. 2.2.1981.] for relief under section 36, allow any interest exceeding six per cent, per annum on the principal sum adjudged.Previous
Sec 30A — [ Limitation as to rate of interest recoverable in case of commercial loan.-] [Section 30A Inserted by W.B. Act 4 of 1981, w.e.f. 2.2.1981.]Notwithstanding anything contained in any law for the time being in force or in any agreement, no borrower of a commercial loan shall be liable to pay any interest other than simple interest at a rate per annum not exceeding in the case of
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Sec 32 — Computation of interest on loans in kind
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