Petition For Discharge Deed Format

Petition For Discharge

Petition For Discharge Deed Format

Cause Title

In the matter of debtor’s petition of absolute discharge under s. 41 of the Provincial Insolvency Act

The applicant above-named states as follows:

1. That on the ……………… day of …………… by an order of this court the applicant was adjudged insolvent and he was to apply for discharge within the ……………… day of ………………

2. That the receiver appointed in the above case has realised all the assets of the applicant and has declared a dividend of …………… paise in the rupee and he has some more money in his hand (or the applicant having no realisable assets nothing has been paid to the creditors).

3. That on account of circumstances for which the applicant cannot justly be held responsible the applicant’s assets are not of a value equal to fifty paise in the rupee on the amount of his unsecured liabilities.

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4. That the applicant has kept all the usual or proper books of account of his business (or the applicant having had no business, no books of account have been kept by him).

5. That the applicant has not continued to trade after knowing himself to be insolvent and has not contracted any debt without having any reasonable or probable ground of expectation that he would be able to pay it nor has the applicant failed to account satisfactorily for any loss or deficiency of assets.

6. That the applicant has not brought on or contributed to his insolvency by rash or hazardous speculations or by unjustifiable extravagance in living or by gambling or by culpable neglect of his business affairs.

7. That the applicant has not given any undue preference to any of his creditors.

8. That the applicant has not concealed or removed his property or any part thereof nor has he been guilty of any other fraud or fraudulent breach of trust.

The applicant therefore prays for an order of absolute discharge.

Verification

I, CD son of ………………………… aged ………… years by occupation business residing at ……………… do hereby solemnly affirm and say as follows:

I am the applicant above-named. I know the facts and circumstances of this case and I am able to depose thereto.

The statements made in the paragraphs 1 to 8 in the above-mentioned application are true to my knowledge and belief and that I have not suppressed any material fact.

I sign this Verification on this ……………… day of …………… 1999 at the Court Premises at Alipore.

Before me                                                                                 Signature of CD

Notary                                                                                      Signature of Advocate

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