Section 84 of TPA : Section 84: Cessation Of Interest
TPA
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Explanation using Example
Imagine John has taken a mortgage loan from a bank and has been regularly paying off his debt. However, due to a financial windfall, John decides to repay the remaining mortgage amount earlier than the agreed term. He approaches the bank and tenders the remaining principal amount. From the date John tenders this amount, as per Section 84 of The Transfer of Property Act, 1882, he is no longer required to pay interest on the principal money.
If John had instead dep...
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