In force · As amended up to 2026-08
10. Conditions on which debtor may petition. —(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[3] [five hundred rupees]; or[4]
(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 an order of adjudication[5] [whether made under the Presidency-towns Insolvency Act, 1909 (3 of 1909), or under this Act] has been annulled, owing to
Source: India Code