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of <h1>Supreme Court defines debt broadly as any liability to repay money or valuable items under express agreement</h1> The text defines 'debt' under Indian law through constitutional and judicial interpretations. Article 366(8) of the Constitution includes any liability to repay capital sums through annuities and guarantees. Black's Law Dictionary describes debt as money owed under express agreement, encompassing present or future obligations to pay money or valuable items. The Supreme Court in a banking recovery case established that 'debt' is a generic term with wide amplitude, emphasizing the legislature's intent to provide broad interpretation rather than restrictive meaning to facilitate recovery proceedings.
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