Power to deposit in Court money due on loan

Power to deposit in Court money due on loan.―

1. (1) Where a money-lender refuses to accept the whole or any portion of the money or other property due in respect of his loan, the debtor may deposit the said money or property into the Court having jurisdiction to entertain a suit for recovery of such loan and apply to the Court record full or part satisfaction of the loan, as the case may be.
2. (2) Where any such application is made, the Court shall, after due inquiry, pass orders recording full or part-satisfaction of the loan as the case may be.
3. (3) The procedure laid down in the Code of Civil Procedure 1908 (Central Act V of 1908), for the trial of suits shall, as far as may be, apply to applications under this section.
4. (4) An appeal shall lie from an order passed by a Court under sub-section
5. (2) within thirty days excluding the time for obtaining a certified copy of the order as if such an order relates to the execution, discharge or satisfaction of a decree within the meaning of section 47 of the Code of Civil Procedure, 1908 (Central Act V of 1908)