Tamil Nadu Debt Relief Laws (Amendment) Act, 1976*
| [Tamil Nadu Act No. 46 of 1976]* | [29th December, 1976] |
Enacted by the President in the Twenty-seventh Year of the Republic of India.
An Act to amend the Tamil Nadu Debt Relief Laws
In exercise of the powers conferred by section 3 of the Tamil Nadu State Legislature (Delegation of Powers) Act, 1976 (41 of 1976), the President is pleased to enact as follows:-
* For Reasons for the enactment, see Tamil Nadu Government Gazette Extraordinary, dated the 29th December, 1976 Part IV-Section 2, Page 354.
* Received the assent of the President on the 29th December, 1976, first published in the Tamil Nadu Government Gazette Extraordinary on the 29th December, 1976 (Margazhi 15, Nalc. (2007-Tiruvalluvar Andu))
1. Short title.- This Act may be called the Tamil Nadu Debt Relief Laws (Amendment) Act, 1976.
2.- The amendment made by this section has already been incorporated in the principal Act, namely, the Tamil Nadu Indebted Agriculturists (Temporary Relief) Act, 1976 (President's Act 15 of 1976).
3.- The amendment made by this section has already been incorporated in the principal Act, namely, the Tamil Nadu Indebted Persons (Temporary Relief) Act, 1976 (President's Act 16 of 1976).
4.- The amendment made by this section has already been incorporated in the principal Act, namely, the Tamil Nadu Debt Relief Act, 1976 (President's Act 31 of 1916).
5. Exclusion of time for limitation and dissolution of stay of proceedings in respect of certain suits and applications.- (1) Where, on or after the 15th day of January, 1976, but before the date of publication of this Act in the Tamil Nadu Government Gazette, any suit for the recovery of any amount towards any liability incurred or arising under any chit, the bye-laws of which have been registered under the Tamil Nadu Chit Funds Act, 1961 (Tamil Nadu Act 24 of 1961) could have been instituted or any application for the execution of a decree passed in any such suit could have been made but for the fact that the institution of the suit or the making of the application was barred by section 3 of the Tamil Nadu Indebted Agriculturists (Temporary Relief) Act, 1976 (President's Act 15 of 1976), or by section 4 of the Tamil Nadu Indebted Persons (Temporary Relief) Act, 1976 (President's Act 16 of 1976), as the case may be, then, in computing the period of limitation or limit of time prescribed for such suit or application, the period commencing on and from the 15th day of January, 1976, and ending with the date of publication of this Act in the Tamil Nadu Government Gazette shall be excluded.
(2) Where any proceedings in any of the suits or applications of the nature mentioned in sub-section (1) were stayed by sub-section (1) of section 4 of the Tamil Nadu Indebted Agriculturists (Temporary Relief) Act, 1976 (President's Act 15 of 1976), or by sub-section (1) of section 5 of the Tamil Nadu Indebted Persons (Temporary Relief) Act, 1976 (President's Act 16 of 1976), as the case may be, the stay effected in respect of such proceedings by sub-section (1) of the said section 4 or by sub-section (1) of the said section 5, as the case may be, shall stand dissolved and such suit or application shall be proceeded with from the stage which had been reached when further proceedings in such suit or application were stayed.
6. Removal of doubts.- (1) Any liability incurred or arising under any chit, the bye-laws of which have been registered under the Tamil Nadu Chit Funds Act, 1961 (Tamil Nadu Act 24 of 1961), shall be deemed never to have been discharged, every suit or other proceedings (including appeal, revision, attachment or execution proceeding) pending at the commencement of the Tamil Nadu Debt Relief Act, 1976 (President's Act 31 of 1976), (hereinafter referred to as the said Act) against any debtor for the recovery of any debt in respect of any such liability (including interest, if any) shall be deemed never to have abated, and every mortgage executed by the debtor in respect of such liability in favour of the creditor shall be deemed never to have been redeemed and the mortgaged property shall be deemed never to have been released in favour of such debtor under section 4 of the said Act, and any suit for the recovery of any amount liable under the chit from any debtor and any application for the execution of a decree passed in any such suit may be instituted or made, as if the said Act as amended by section 4 of this Act was in force at the relevant time.
(2) Every proceeding instituted under the provisions of the said Act, in respect of such liability as is referred to in sub-section (1) and pending before the Tahsildar or other authority on the date of publication of this Act in the Tamil Nadu Government Gazette shall abate.
(3) Nothing contained in this section shall be deemed to invalidate any proceeding in which the order passed has been executed or satisfied in full before the date of publication of this Act in the Tamil Nadu Government Gazette.