Removal of doubts

Any liability in respect of any sum due to any company which is declared to be a Nidhi or Mutual Benefit Society under sub-section (1) of section 620-A of the Companies Act, 1956 (Central Act 1 of 1956), shall be deemed never to have been discharged, every suit or other proceed- ings (including appeal, revision, attachment or execution proceedings) pending at the commencement of the Tamil Nadu Debt Relief Act, 1976 (President's Act 3 1 of 1976) (hereinafter referred to as the said Act) against any debtor for the recovery of any debt in respect of any such liability (including interest, if any) shall be deemed never to have abated, every movable property pledged by a debtor in respect of such liabihty in favour of such company shall be deemed never to have been released in favour of such debtor and every mortgage executed by the debtor in respect of such liability in favour of such company shall be deemed never to have been redeemed and the mortgaged property shall be deemed never to have been released in favour of such debtor, under section 4 of the said Act, and any suit for the recovery of any sum due to such company from any debtor and any application for the execution of a decree passed in any Such suit may be instituted, or made, as if the said Act, as amended by section 4 of this Act, was m force at the relevant time.