ORDER.-The only question in this civil miscellaneous second appeal is whether the decree debt, which arose under a chit transaction is a debt as defined under section 2 (2) of the Tamil Nadu Act XXXVIII of 1972. The judgment-debtor filed an application under section 16 of the said Act for stay of the execution proceedings. The Courts below, holding that the decree amount is not a debt as defined in the abovesaid provision, dismissed the petition. The Courts below relied upon a decision of Suryamurthy, J. in Arunagiri Chit Fund v. Md. Hanafi1for coming to the above conclusion. That was a case under Act XV of 1976 and Act XVI of 1976. The definition of the word ‘debt’ in Act XV of 1976, is not similar to that in Act XXXVIII of 1972. But, the debt in Act XVI of 1976 is almost similar to the definition contained in Act XXXVIII of 1972.

2. The definition in Act XXXVIII of 1972 is as follows:-

“2 (2), ‘debt’ means any liability in cash or kind, whether secured or unsecured, due from a debtor whether payable under a decree or order of a civil or revenue Court or otherwise, but does not include rent as defined in clause (9).”

In Act XVI of 1976 also the definition is more or less the same.

3.

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