Amendment status not verified — confirm the current text below against the official source.
Certain debts and liabilities not to be affected.- Nothing in this Act shall apply to the following categories of debts and liabilities of a debtor, namely.- (a) Any rent due in respect of any property including agricultural land let out to such debtor; (b) Any amount recoverable as arrears of land revenue; 14 (c) Any revenue, tax or cess payable to the Central Government or the State Government or a local Authority under a decree of a court or otherwise; (d) Any liability arising out of breach of trust or any tortuous liability; (e) Any liability in respect of wages, or remuneration due as salary or otherwise for services rendered; (f) Any liability in respect of maintenance whether under a decree of a court or otherwise; (g) A debt due to.- (i) The Central Government or any State Government; (ii) Any local authority; (iii) A credit agency as defined in the Karnataka Agricultural Credit Operations Miscellaneous Provisions Act, 1974 (Karnataka Act 2 of 1975); (iv) A Government company within the meaning of the Companies Act, 1956; (v) The Life Insurance Corporation of India; (vi) A Co-operative Society registered under the Karnataka co-operative Societies Act, 1959. (h) Any amount due by such debtor under a hire purchase agreement; (i) Any debt which represent the price of property; whether movable or immovable purchased by such debtor; 15 (j) Any amount due by such debtor under a partition to another sharer; (k) Any amount received by a debtor as advance for the delivery of goods at a future date; (l) Any liability incurred or arising under any chit the by-laws of which have been registered; (m) Any sum decreed as costs by any court.