Studies in Ancient Hindu Polity (Based on the Arthashastra of Kautilya), Vol. I c14.s3.24

c14.s3.24

The repayment of debts is also subject to the following rules.¹ The creditor is fined 12 paṇas if he refuses to accept in proper time the sum due, unless the refusal be founded upon some adequate grounds. Moreover, in case of refusal, the sum tendered may be deposited by the debtor with some third person, and no interest accrues upon it for the time subsequent to the date of deposit.