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Report No. 63

5.9. Debts payable in kind.-

Reverting to the Act, we may state that there appears to be some controversy on the question whether a debt payable in kind is a 'debt' under the Act. The Bombay High Court takes a narrower view on the subject,1 while the Madras view is wider.2 On principle, there does not appear to be any reason why debts payable in kind should be excluded. We, therefore, recommend a clarification for the above purpose, adopting the Madras view.

1. Narayan v. Nagappa, (1910) 12 Born LR 831.

2. Govindan Nair v. Cheral, 1913 ILR 38 Mad 464.

Interest Act, 1839 Back

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