Amendment status not verified — confirm the current text below against the official source.
(I ) Wbere, durir.g the hea ring of any application made ant of under section -i, any creditor refuses to agree to an amicable te by settlement, the Board may, ifit u ofopinion that the debto r has ~ made such creditor a fair offer which th - creditor ought reason- debt~ ably to accept , grant the de btor, in such form as may be , prescribed, a certificate including the particulars of the fair off~r in respect of the debt owed by him to such creditor. of (2) Where any creditor sues in any Civil Court for the reco- to very of a debt in respect of which a cert iricate has been granted to a under sub-section fI ), the Court, notwithstanding the previsions offer. of an}' law for the time being in force, may, if it thi nks fit refuse to grant a decree for any sum in excess of the sum specified in the certificate aa a fair offer, and shall not allow the plaintiff any COlts in such suit, or any interest on the debt after the date of such certificate in excess of simple interest at 6 per cent. per annum on th~ principal amount due on the date of such certi- ficate. (3 Where aft", the registration of an agrtement under sub- section (2 r:L section l~ any creditor ~Ue5 for the recovery of a debt in respec t of VI hich no settlement hal been made though it was included in the applicarion under section 6 or in the statement of debt! under section 8 or an) creditor SUe! fOT the recovery of a debt incurred alter the dace of such registration, any decree passed in such suit shall, notwithstanding anything contained in the Code of Civil Proced ure, 1908, not be exe- Aet\ cured uJ/lil all amounts recorded as parable under such agree- DJenT hare been paid or such agr~ment has ceased Co subsiJI: Provided that the provIsion III this sub-section shall not " , appJ" to tb« execution ofa rent decree. Baror C1\'iJ I . • suir ex: pro-