No suit for recovery of a debt shall be instituted, no application for execution of a decree in respect of a debt shall be made and no appeal, revision petition or application for review against any decree or order in any such suit or application shall be presented or made in any civil or revenue court before the expiry of one year from the commencement of this Act or such longer period as may be specified by the Government by notification in the Gazette; and all such suits, applications, appeals and petitions instituted, made or presented before such commencement and pending at such commencement shall stand stayed for the said period.
Explanation I.— In this section, the term "suit" shall not include a claim to a set-off made in a suit instituted by a debtor.
Explanation II.— For the purposes of this section, a suit in which a decree in respect of a debt is prayed for shall be deemed to be a suit for the recovery of the debt, notwithstanding that other reliefs are prayed for in such suit, and a decree shall be deemed to be a decree in respect of a debt notwithstanding that other reliefs are granted in such decree:
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Provided that a suit or decree for possession of land shall be deemed to be a suit for recovery of, or a decree in respect of, a debt by reason merely of mesne profits being also prayed for or included in such suit or decree.
Explanation III.—Nothing in this section shall debar a decree-holder from enforcing reliefs other than in respect of a debt, where the decree contains independent reliefs.