44A. LIMIT ON INTEREST IN CERTAIN CASES
Notwithstanding anything contained in any agreement or any law for the Limit on time being in force, a society (including a co-operative bank but excluding (an interest in Agriculture and Rural Development Bank] shall not for any loan (including rehabilitation loan but excluding long-term loan for irrigation or agricultural development purposes or loan exceeding rupees three thousand for non-agricultural or commercial purposes) given by it to any member (including a member-society) for a period not exceeding 15 years, whether the loan was given before or is given after the commencement of the Maharashtra Co- operative Societies (Second Amendment) Act, 1985, recover, in any manner whatsoever, on account of interest, a sum greater than the amount of the principal of the loan.