Past consideration refers to a situation where a promise is made in return for an act or forbearance that has already been completed before the promise is made. In other words, it is a promise to pay for something that has already been given or done in the past. The general rule is that past consideration is not valid and cannot be enforced. However, there are certain exceptions to this rule.

In the context of the question, the correct answer is option 'B' - India only. Let's discuss the reasons for this:

1. English Law:
In England, past consideration is generally not valid. The law requires that consideration must move from the promisee in return for the promise made by the promisor. Past consideration does not fulfill this requirement as it refers to something that has already been done or given before the promise was made.

2. Indian Contract Act, 1872:
In India, the situation is different. The Indian Contract Act, 1872 recognizes past consideration as valid in certain circumstances. Section 25 of the Act states that an agreement made without consideration is void, except in a few cases including past consideration. It states that if a promise is made in writing and is signed by the person making it or by his authorized agent, it is a valid contract even if there is no consideration.

3. Exceptions to the Rule:
Although past consideration is generally not valid, there are exceptions to this rule. One such exception is when the act or forbearance was done at the request of the promisor. In such a case, the promise made after the act or forbearance can be enforced. This exception is recognized under Indian law, making past consideration valid in India, but not in England.

In conclusion, past consideration is valid in India but not in England. The Indian Contract Act, 1872 recognizes past consideration as valid in certain circumstances, while English law generally does not. It is important to understand the legal principles and exceptions regarding consideration in contract law to ensure the validity and enforceability of agreements.