Notwithstanding anything in any law for the time being in force or in any contract or instrument having force by virtue of any such law and save as otherwise expressly provided in this Act, with effect form the date of commencement of this section,-(a)every debt advanced before the commencement of this section including the amount of interest, if any, payable by the debtor to the creditor shall be deemed to be wholly discharged;(b)no Civil Court shall entertain any suit or proceeding against the debtor for the recovery of any amount of such debt including interest, if any:Provided that where a suit or proceeding is instituted jointly against the debtor and any other person nothing in this section shall apply to the maintainability of the suit or the proceeding in so far as it relates to such other person:(c)all suits and proceedings (including appeals, revisions, attachments or execution proceedings) pending on the said date against any debtor for the recovery of any such debt shall abate:Provided that nothing in this clause shall apply to the sale of,-(i)any movable property held and concluded before the commencement of this section:(ii)any immovable property confirmed before such commencement;(d)every debtor undergoing detention in a civil prison in execution of any decree for money passed against him by a Civil Court in respect of any such debt shall be released;(e)every movable property pledged by a debtor shall stand released in favour of such debtor and the creditor shall be bound to return the same to the debtor forthwith and where the creditor fails to do so the debtor shall on application made to the Sub-Divisional Magistrate or any other executive Magistrate authorised by the State Government in this behalf having jurisdiction over the place where the debtor resides be entitled to the return of the same;(f)every mortgage executed by the debtor in favour of the creditor shall stand redeemed and the mortgaged property shall be released in favour of such debtor and where the creditor fails to do so, the Sub-Divisional Magistrate or any other executive Magistrate authorised by the State Government in this behalf having jurisdiction over the place where the mortgaged property is situate may suo motu or on application of the debtor and after such inquiry as he may deem fit, put the debtor in possession of the mortgaged property.Explanation.- Nothing in this section shall be construed as entitling any debtor for refund of any part of any debt already repaid by him or recovered from him before the commencement of this section.
