(1) While recovering the principal and interest of a loan pursuant to Section 46, the prescribed committee, organization or authority shall recover the same by charging an interest at the rate of Ten percent of the principal. Provided that, while so recovering the loan, it appears that any peasant may tend to suffer grievance, the committee, organization or authority may issue an order allowing such peasant to repay the principal and interest in installments within a maximum period of Five years.
(2) Until the principal and interest of a loan payable by a peasant is fully recovered from the peasant pursuant to this Section and Section 46 or within Two years after the commencement of this Chapter, whichever occurs earlier, no creditor shall be entitled to recover the principal and interest of a loan, other than an agricultural loan, or any figure of the amount payable to him/her or to remove or get return of the oxen or other means of agriculture used by the peasant in cultivation.
(3) Where the limitation of any creditor is to expire by virtue of his/her failure to recover the loan pursuant to this Section, his/her limitation shall be deemed to be existing until Seventy days after the date on which the stoppage thereon is lifted.