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1981 (8) TMI 233 - SC - Indian LawsExtract: .......mmencement of the Act. We have already indicated that the other condition which must be satisfied in order that clause (1) may apply is that the debt must have been incurred from a banking company before the commencement of the Act. For these reasons we dismiss the appeal. Appellant will pay the costs of the respondent throughout. Appeal dismissed.
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