Section 55. Period of proceedings before courts under this chapter to be excluded.

In computing the period of limitation for the institution of any suit or proceeding in respect of any debt due from any person who is held not to be a debtor by the Court or the Court in appeal or an application relating to which has been dismissed by the Court or the Court in appeal, the period during which the proceedings in respect of such debt were prosecuted under this Chapter before the Court or the Court in appeal shall be excluded.