A.S. Oka, J.

1. On the basis of Judgment and Order dated 23rd December, 2008 passed by learned Single Judge, the Hon’ble the Chief Justice passed an order on the Administrative Side directing that these matters should be placed before a Division Bench. Accordingly, these Applications have been placed before this Court.

2. The reference to Division Bench is for deciding the two questions formulated by the learned Single Judge under his Judgment and Order dated 23rd December, 2008. The said two questions are:-

“(i) Does the issuance of a cheque in repayment of a time barred debt amounts to a written promise to pay the said debt within the meaning of Section 25(3) of the Indian Contract Act, 1872?

(ii) If it amounts to such a promise, does such a promise, by itself, create any legally enforceable debt or other liability as contemplated by Section 138 of the Negotiable Instruments Act, 1881?

3. We have heard Shri A.P. Mundargi, learned Senior Counsel who was appointed as Amicus Curiae to assist the Court, Shri Prakash Naik, Shri S.S. Kulkarni, Shri M.D. Mali, Shri Nitin V. Gangal and Shri S.V. Marwadi, the learned counsel representing the various parties.

SUBMISSIONS:

4. Shri M