Sections Particulars
1 Short title, extent and commencement
(1) This Act may be called the Interest Act, 1978.(2) It extends to the whole of India except the State of Jammu and Kashmir.(3) It shall come into force on...
2 Definitions
In this Act, unless the context otherwise requires;-(a) "court includes a tribunal and an arbitrator;(b) "current rate of interest" means the highest of th...
3 Power of court to allow Interest
(1) In any proceeding for the recovery of any debt or damage or in any proceedings in which a claim for interest in respect of any debt or damages already pa...
4 Interest payable under certain enactments
(1) Notwithstanding anything contained in section 3, interest shall be payable in all cases in which it is payable by virtue of any enactment or other rule o...
5 Selection 34 of the Code of Civil Procedure, 1908 to apply
Nothing in this Act shall affect the provisions of section 34 of the Code of Civil Procedure, 1908 (5 of 1908)....
6 Repeal and saving
(1) As from the commencement of this act, the Interest Act, 1839 (32 of 1839) and any other law corresponding thereto in force in any State immediately befor...
Have a Legal Issue?
Get connected to the Best Lawyers and Chartered Accountants Near You!