Save as otherwise expressly provided, nothing in this Act shall affect the debts and liabilities of a debtor falling under the following heads, namely :-
(i) any revenue or tax payable to Government or any other sum due to it by way of loan or otherwise,
(ii) any tax payable to a local authority or any other sum payable to such authority by way of loan or otherwise,
(iii) any sum due to a co-operative society,
(iv) any sum advanced solely for the purpose of financing of crops as provided in the repealed Act or for the purpose of seasonal finance as provided in this Act,
(v) any sum due under a decree or order for maintenance passed by a competent Court, 1[* *]
(vi) any sum due to a scheduled bank, 2[and
(vii) any sum due to a merged State bank.]
(i) any revenue or tax payable to Government or any other sum due to it by way of loan or otherwise,
(ii) any tax payable to a local authority or any other sum payable to such authority by way of loan or otherwise,
(iii) any sum due to a co-operative society,
(iv) any sum advanced solely for the purpose of financing of crops as provided in the repealed Act or for the purpose of seasonal finance as provided in this Act,
(v) any sum due under a decree or order for maintenance passed by a competent Court, 1[* *]
(vi) any sum due to a scheduled bank, 2[and
(vii) any sum due to a merged State bank.]
Source footnotes
1. The word "and" was deleted by Bom. 37 of 1950, s. 3.2. This word and clause (vii) were added by Bom. 37 of 1950, s. 3.
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More sections of this act
Section 1 · Short title and extent.Section 2 · Definitions.Section 4 · Application for adjustment of debts.Section 5 · Every creditor and debtor to file a true and correct statement before Court.Section 6 · Application by debtor jointly and severally liable.Section 7 · Assignees from non-debtor not entitled to benefit of this Act.Section 8 · Application for recording settlement.Section 9 · Settlement during pendency of proceedings before Court.India Code, Government of India. Text fetched 17 Oct 2026. Check the linked official text and subsequent notifications when applying a provision.