scaling down of the debt. That scaled down debt is the debt payable under the Act, and is the debt payable in instalments under ... that the debt is not a debt within the meaning of the Act. An excluded debt is not a debt as defined by Section
also in respect of such debts and the existence
of any such debt or debts is essential for the
maintainability of a petition under Section ... limited ID the debts incurred prior to the Act. Even though one such debt defined in Section 2(e) is necessary for sustaining the application
what is the
meaning of 'debt' as referred to under Section 26E . Debt as
defined in the Black's Dictionary in Eighth ... 1559/2023
16
2024:KER:73295
Foundry (AIR 1974 SC 1265) defined 'debt' as follows:
"The word 'debt' is applicable
notice, includes the
interest, basically for the reason that 'debt' is defined under Section 2(ha) ,
of Act, 2002 to mean, the meaning ... learned
standing counsel for the appellant/Bank is that since the debt defined
includes interest, the claim that is raised by the Bank
defines Debt as "debt"
shall have the meaning assigned to it in clause (g) of section
2 of the Recovery of Debts ... interest
from the debt due."
The Division Bench held that "debt due" under Section
18(1) SARFAESI is defined with reference
defines Debt as "debt" shall have
the meaning assigned to it in clause (g) of section 2 of the Recovery of
Debts ... interest from the debt due."
The Division Bench held that "debt due" under Section 18(1) SARFAESI
is defined with reference
closely
look into the definition of the word "debt" as
defined under the statute. It is apposite to
extract the definition ... Securitisation Act does not define
debt, the Parliament has adopted the definition of
"debt" as defined under Section 2(g) of the
Recovery
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
Section 2 (4) (1) from the scope of the debt is only "any debt exceeding three thousand rupees borrowed under a single transaction ... Section 2 (4)(a) an well as (1). Section 2 (4) defines 'debt' to mean any liability in cash or kind, whether secured
some of the salient provisions of the Regulation. Section 2 (b) defines debt. Section 3 provides for establishment of Tribunals. Section 4 provides for filing ... Banking Company as defined in the Banking Companies Act . 1949"
from the definition of "debt" is arbitrary, as there is no rational
