Extortionate credit transactions.

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Full Text of the Document

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....the bankrupt is or has been a party. (2) The transactions under sub-section (1) should have been entered into by the bankrupt during the period of two years ending on the bankruptcy commencement date. (3) An order of the Adjudicating Authority may- (a) set aside the whole or part of any debt created by the transaction; (b) vary the terms of the transaction or vary the terms on which any securi....