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Section 10 – The Provincial Insolvency Act,1920

The Provincial Insolvency Act,1920

Section 10. Conditions on which debtor tiny petitioner

(1) A debtor shall not be entitled to present an insolvency petition, unless he is unable to pay his debts and-

(a) His debts amount to five hundred rupees; or

(b) He is under arrest or imprisonment in execution of the decree of any Court for the payment of money; or

(c) An order of attachment in execution of such a decree has been made, and is subsisting, against his property.

(2) A debtor in respect of whom all order of adjudication whether made under the Presidency-towns Insolvency Act,1909 (3 of 1909), or under this Act has been annulled, owing to his failure to apply, or to prosecute all application for his discharge, shall not be entitled to present an insolvency petition without the leave of the Court by which the order of adjudication was annulled. Such Court shall not grant leave unless it is satisfied either that the debtor was prevented by any reasonable cause from presenting prosecuting his application, as the case may be, or that the petition is founded on facts substantially different from those contained in the petition on which the order of adjudication was made.

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The Provincial Insolvency Act,1920

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