PETITION BY A CREDITOR TO DECLARED INSOLVENT

PETITION BY A CREDITOR TO DECLARED INSOLVENT  [CD1] 

 

 

IN THE COURT OF _______

 

Insolvency Petition No_______ of 20 _______

 

 

………………., aged….., resident of. ______________________ Creditor-Applicant;

 

Versus

 

……………, aged _____, resident of…………………………………..…. Debtor-Opposite Party.

 

In the matter of the Provincial Insolvency

 

 

Act and the matter of the insolvency of

 

______________ abovenamed.

 

The humble petition of the Creditor-Applicant, abovenamed under the provisions of Section 7 of the Provincial Insolvency Act most respectfully sheweth: 

 

1.     That the abovenamed ………………………………………………………. (Debtor-Opposite

Party) is indebted to your applicant and the aggregate amount of debts owing to your applicant amount to Rs ____________, detail whereof is given in the Schedule hereto. 

 

2.     That the debts aforesaid consist of advances made by your applicant to the opposite party on the security of pronotes, payment at sight and repeated demands for the liquidation of which have received no response from the said opposite party. 

 

3.     That one of the aforesaid debts consist of a simple money decree of the Court of the Judge, Small Causes at ______________(or Suit No. ___________________ of ________________________, decided on _____________), which said decree was put in execution and the movable property of the Debtor-Opposite Party is under attachment in Ex. Case No______________________ of _______, of the said Court. 

 

4.     That the above subsisting attachment is an act of insolvency within the meaning of Section 6 of the Provincial Insolvency Act. 

 

Wherefore your applicant prays that this Court may be pleased to adjudge the said Debtor-Opposite Party an insolvent. 

 

Dated._______ Sd. …………………….. 

 

VERIFICATION

 

I, ………………..……………………..., the abovenamed creditor-applicant hereby at

___...................____, verify that the contents of Paras _______of the above petition are true to my knowledge and that the contents of Paras _______ of the same petition are believed by me to be correct. 

 

Signed, dated and verified at. _______ this day of _______ 20_______ 

 

SCHEDULE A: (Debts). Sd. ……………………….

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 [CD1]PETITION BY A CREDITOR TO DECLARED INSOLVENT