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Section 21A of the Banking Regulation Act, 1949, will not operate in those States where there is a State Debt Relief Act that deals with the subject matter of relief of 'agricultural indebtedness'.

SC :: in JAYANT VERMA & ORS. Vs. UNION OF INDIA & ORS. :: Section 21A of the Banking Regulation Act, 1949, which prohibits Courts from reopening a debt between a banking company and its debtor on the ground that the rate of interest charged by the banking company is excessive, will not operate in those States where there is a State Debt Relief Act that deals with the subject matter of relief of 'agricultural indebtedness'.

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