Reopening of transactions

(1) Notwithstanding anything contained in any law for the time being in force, the court shall, in any suit to which this Act applies, whstlhgy heard ex-prate or otherwise,- (a)reopen any adjustnent or agreement purporting to elose previous dsalings and to create new obligations which have been entrusted into by the parties or any person through whom they claim at a date more thal six years from the date of the suit, (ii)do anlthing which affects any decree of a court (d)if on taking accounts, it is found that the Money-Lender has received more t}ran what is due to him, pass a decree in favow of the debtor in respecf ofsuch unount: Provided that in the exercise of these powers, the court shall not- Explanation,- For the purpose of this section, "excessive interest" means interest at a rate which contravenes any of the provisions of section 33. (2)(i)Notwitbstanding anything to the contary contained in any law, custom or contrac! where in any such suit, it is alleged by the debtor- (a)that the loan was advanced to him by the Money-Lender either before or after the appointed day, rot in fact on the security of any property held by him [u1th.1 th. loan was actually advanced to him on his tansfening by way of sale of such property to the Money-Lender or to a relative of the Monby-Lender, or (b)that the transaction was in fact in the natue of a mortgage, the court shall declare the tansaction to be a sale or, as the case may be, a mortgage, if the court is satisfied that the circumstances conr:ected with the tansaction showed the transfer to be in the natue of a sale or a mortgage and thereupon the court shall proceed accordingly. (ii)In any zuch suit" if such relative has not been impeded as a party, the court shall declare such relative to be a party to such suit. Frpbnalion - For the purpose of this sub-section, the expression "relative" shall mean any ascendaat to the second degree and his descendant to the third degree and spouse ofany such ascendant or descendant.