(1) Notwithstanding anything contained in any other law for the time being in force or in any contract or other instrument having force by virtue of any such law, no debt of a worker who holds immovable property the market value of which exceeds twenty thousand rupees but does not exceed forty thousand rupees together with interest, if any, outstanding on the appointed day, shall stand discharged or shall be deemed ever to have stood discharged on the appointed day; and except as herein before provided, all such debts shall stand revived as provided by section 3 and shall continue to exist until they are wholly discharged ; but the payment or recovery of any such debts shall, subject to the provisions of this section, nevertheless stand stayed 1[during the period this Chapter remains in force;] and it shall not be lawful for any creditor to recover any such debt or any part thereof or any interest remaining unpaid on the appointed day during such period, and the provisions of Chapter V shall apply to the execution of decrees in relation to such debt against any such workers as they apply to the execution of decrees against small farmers.
(2) The amount of debt of a worker to be recovered 2[after the expiry of this Chapter] shall not exceed the amount of the principal by more than one hundred and fifty per cent of such amount.
(3) No interest shall accrue on any amount of the debt of a worker during the period this Chapter is in operation.
Explanation.-For the purposes of this section, the expression "debt of a worker" includes a debt arising out of loans taken from more than one creditor.
(2) The amount of debt of a worker to be recovered 2[after the expiry of this Chapter] shall not exceed the amount of the principal by more than one hundred and fifty per cent of such amount.
(3) No interest shall accrue on any amount of the debt of a worker during the period this Chapter is in operation.
Explanation.-For the purposes of this section, the expression "debt of a worker" includes a debt arising out of loans taken from more than one creditor.
Source footnotes
1. These words were substituted for the words "during the period this Act remains in force" by Mah. 18 of 1979, s. 4 (a).2. These words were substituted for the words "after expiry of this Act" by Mah. 18 of 1979, s. 4 (b).
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More sections of this act
Section 1 · Short title, extent and commencement.Section 2 · Definitions.Section 3 · Revival of all discharged debts under Ordinance VII of 1975.Section 4 · Discharge of certain debts and consequences thereof.Section 5 · Prohibition against disposal of pledged property, etc. and penalty.Section 6 · Power of certain officers to enforce delivery of possession of property to debtor.Section 7 · Creditor may dispute debtor’s claim.Section 8 · Power of entry and search.India Code, Government of India. Text fetched 18 Oct 2026. Check the linked official text and subsequent notifications when applying a provision.