( 1 ) RESPONDENTS in C. R. Ps. Nos. 780 and 781 of 1982 are represented by Sri. M. Dasappa, learned Advocate. The remaining respondents are absent

( 2 ) COMMON question of law arises in these C. R. Ps. and therefore a common order is being passed.

( 3 ) THE petitioners-Chit Fund Corporation obtained decrees against respondent 1 in these matters towards the recovery of instalments regarding a chit. They executed the decrees in the Court of Munsiff, Mandya. The concerned respondents raised a contention that they are debtors under Karnataka Debt Relief Act. The Act that was in force at the time when the contention was raised is the Karnataka Debt Relief Act, 1976 (here-inafter referred to as the Old Act ). During the course of the enquiry the Karnataka Debt Relief Act of 1980 came into force. This Act, in the course of the order, will be referred to as the New Act. The petitioners contended that in view of the fact that the decretal amount in each one of the execution cases is not a debt in the sense that no amount had been loaned to the respondents as borrowers and the same was not recoverable as a loan and the concerned respondents were not in law entitled to raise s