section 12
Sale of pledge
The Tamil Nadu Pawn Brokers Act, 1943(1) A pledge pawned shdl not be disposed of by the pawnbroker otherwise than by sale at a public auction, conducted in accordance with such rules as may be presoribed. (2) Where the highest bid at the sale by auction is the bid of the pawnbroker, tlzc sale shall not take effect unless the bid is for a sum exceeding the sum payable on the pawn inclusive of interest and prescribed charges. (3) At any time within three years after the public auction, the holder 01' lllc pawn-ticket may inspect the entry relating to thc sale either in the pawnbroker's book or in such catalogue of the auction as may be prescribed. (4) (a) Where a pledge has heen sold for Inore than the amount of the loan ;~ntl the interest and prescribed charges due at the time of the sale, the pawnbroker shall pay to the holdcr of the pawn-ticket on demand made within three ycnrs after the sale, the surplus after deducting therefrom the necessary costs and prescribed charges of the sale. (b) If on such demand it rrppears that the sale of the pledge has resulted in a su~~plus but that within lwelve months before such. salc, the sale of any other pledge or pledges of the same pciason has resulted in defioit, the pawnbroke7 muy set off the deficit against the surpl~is and s&ll be lic~ble to pay only the balance, if any, after such set oiT. For section 19 of the principal Act, the following scctions ahall be substituted, namely :-"19. Trial of offences.-No court inferior to that of a Chief Judicial Magistrate shall try any ofioace 19-A. (1) When imposing a sentenre of baa the court may, when passing judgment, order recovered to be applied -. (a) in defraying the expenses properly incurred in the prossoution ; (b) in payment to, any person of compensation for any loss or injury caused by the offence, when compensation is, in the opinion of the Court, recoverable by such person in a civil suit, or in replacing or, as the case may be, restoring to the nrtvious state any property which has been pledgod. (2) If the fine 1s l~llposed in a case which is subject to appeal, no such payment shall be ~nnde before the pariod allowed for presenting 'the appeal has elapsed, or, if an appsal ba presented, beforo the decision of the appeal. (3) An ord& &her this sectibn may also be made by an Appellate Cou* or'by the Qigh Court or Court of Ssssion whan exercising.its pawers of revision. (4) At the time of awarding cornpornation in any subsequent cidil*.suil relating to,the same matter, the Court shall take into account any sum pald','$'Y' recovered a s cornpansation under thi's section:".
Study data processing for this section.
PDF: pending for this language.