section 11
Pawn broker to keep books, give receipts, etc.
The Telangana Pawn Brokers Act, 2002General200237 sections
Statutory text
- (1) Every Pawn Broker shall,-
- (a) regularly record and maintain or cause to be recorded and maintained, in a pledge book in the prescribed form, an account showing for each debtor separately,-
- (i) the name and address of the Pawner;
- (ii) a full and detailed description of the article or each of the articles taken in pawn;
- (iii) the date of the loan, the amount of the principal of the loan and the rate of interest charged on the loan;
- (iv) the time agreed upon for the redemption of the pawn; and
- (v) the amount of every payment received by the Pawn Broker in respect of the loan, and the date of such payment;
- (b) keep and use in his business, the following documents and books as may be prescribed and enter therein from time to time, as occasion requires, in a fair and legible manner, such particulars and in accordance with such directions, as may be prescribed,-
- (i) pawn-ticket;
- (ii) sale book of pledges;
- (iii) declaration of pawn-ticket lost; and
- (iv) receipt on redemption of pledge;
- (c) give to the pawner or his agent a receipt for every sum paid by him, duly signed and, if necessary, stamped at the time of such payment; and
- (d) on a requisition in writing made by the pawner, furnish to him or to any person mentioned by him, a statement of account signed by himself or his agent, showing the particulars referred to in clause (a) and also the amount which remains outstanding on account of the principal and of interest, and may charge such sum as the State Government may prescribe as fee therefor.
- (a) regularly record and maintain or cause to be recorded and maintained, in a pledge book in the prescribed form, an account showing for each debtor separately,-
- (2) All records or entries made in the books, accounts and documents referred to in sub-section (1) shall be either in English or in such language of the locality as may be prescribed and all such books, accounts and documents and all pledges taken by the Pawn Broker shall be open to inspection by the Licensing Authority or an Inspector appointed under section 16 or any Police Officer not below the rank of Sub-Inspector or by any Revenue Officer not below the rank of a Mandal Revenue Officer.
- (3) Notwithstanding anything contained in the Indian Evidence Act, 1872, a copy of the account referred to in clause (a) of sub-section (1), certified in such manner as may be prescribed, shall be admissible in evidence in the same manner and to the same extent as the original account.
- (4) A pawner to whom a statement of account has been furnished under clause (d) of sub-section (1) and who fails to object to the correctness of the account shall not, by such failure alone, be deemed to have admitted the correctness of such account.
- (5) In the pawn-ticket furnished to the pawner under section 8, in the receipt given under clause (c) of subsection (1) and in the statement of account furnished under clause (d) of that sub-section, the figures shall be entered only in Arabic numerals.
- (6) If any Pawn Broker fails to give to the pawner or his agent a receipt under clause (c) or a statement under clause (d) of sub-section (1) he shall be liable to a fine not exceeding rupees five thousand.
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