Zamindar's Debt Reduction Act (U.P.
XV of 1953) which reduced the amount recoverable on a debt
as defined ... debt was defined in the Act in
these terms:
2(f): "debt" means an advance in cash or in kind and
includes
Section 2(c) of the Act. Under Section 2(g) , debt has been defined to include interest. Debt is the amount "due from ... debt, and the amount is Rs. 10 lakhs or more, it can be filed only before the Tribunal. The 'debt', as defined under
invested in any Government security as defined in Section 2(2) of the Public Debt Act, 1944, or in any other security approved ... other security for this purpose. Section 2(2) of the Public Debt defines "Government security" as the security created and issued
from the said words 'debt owed', has mentioned the words 'debt secured' and 'debt incurred' in the said Section ... case is a 'debt owed' in the same sense. But the word 'debt' has been defined by Dr. Murray
form, to the Demat account of each Debenture
Holder.
(vii) ―Identified Debt‖ was defined, in Clause ... Debenture Trust Deed, as meaning, collectively, Debt 1, Debt 2
and Debt 3 which, in turn, were defined in Clauses
Code (to
mean non-payment of debt). The debt is defined under Section 3(11) of the
Code, means a liability or obligation in respect ... only upon the occurrence of a ‗default'. The word
‗debt' as defined under the Code, means a liability or obligation in respect
words of the definition clause
would indicate that a financial debt is a debt along with interest
which is disbursed against the consideration ... appellants come within the meaning of
'debt' as defined in Section 3(11) of the Cf & B Code' which reads
person to
whom a financial debt is owed and a financial debt
is defined in Section 5(8) to mean a debt which is
Company ... means any person to whom a financial debt is owed and 'financial
debt' is defined in sub-section (8) of Section
Corporate Debtor was alleged, was
not a 'Financial Debt' as defined under Section 5(8) of the I&B Code despite ... Code, be it seen that the legal expression
'debt', defined under Section 3 (11) means a liability or obligation in respect
Debt Recovery Tribunal as the amount sought to be recovered is not "debt" as, defined in S. 2(g) of the said ... filed.
4. Section 2(g) of the said Act which defines "debt" is relevant for the purposes of this appeal. It reads
