cover image: Proceedings of the Legislative Council of the United Provinces  Friday  2nd November  1934

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Proceedings of the Legislative Council of the United Provinces Friday 2nd November 1934

1934

The members followed the dictates of the mathematician and they went into the river; but in the middle of the river everybody was drowned. [...] profit because the purchaser and the creditor were both compensatethe purchaser was compensated in the rise of the value of the property and the creditor was compensated because he would reap the interest at the high rate of interest but now the circumstances have entirely changed. [...] I ask Sir is the condition of the debtors or the agriculturists of these provinces in any way better than that of the 'debtors or agriculturists of the Central Provinces ? Have they not been affected by the economic slump to the same extent ? So there does not seem to be any reason why the assent of the Government of India should be withheld for these provinces. [...] Mudie that the Government of India had given assent to this limit in the case of unsecured loans in the ()antral Provinces legislation why it should not be given in the case of this province the reply was that it is not the view of the Government of India but that it was the view of the Government of the United Provinces that no limit should be put on unsecured loans. [...] If we do not fix the limit for unsecured debts then the courts are likely to misunderstand and misconstrue our view because since the time the Government have engaged their attention to tips debt legislation the courts have been applying the Usurious Loans Act more freely and vigorously and the benefit that the public has been deriving at the hands of the courts by the use of the Usurious Loans
government politics public policy
Pages
52
Published in
India
SARF Document ID
sarf.100003
Segment Pages Author Actions
Frontmatter
i-ii unknown view
Proceedings of the Legislative Council of the United Provinces Friday 2nd November 1934
164-212 unknown view
Appendix
213-213 unknown view