Mantena Kanakaraju vs Datla Atchutharamanaraju and Another

Wadsworth, J.—It is contended that the Act does not apply to the scaling down of debts which have ripened into decrees after the commencement of the Act. I can find no support in the Act for this contention. The definition of "debt" specifically includes a decree debt and it Seems to me clear that a decree debt is nonetheless a debt because it does not fall within the category for which special provision is made in Section 19. I do not think that the petitioner is entitled to deduct the amount debited for interest at a time when the account was still running with fluctuating balance. When the account closed there was a definite amount of Rs. 1874-7-0 due and this must be treated as the principal amount and plaintiffs will be entitled to interest thereon at 6| per cent, from 1st October 1937 and the decree will be scaled down accordingly. Leave refused.