Amendment status not verified — confirm the current text below against the official source.
(1) Every debtor shall, within such period as may be prescribed, furnish to the local authority within whose jurisdiction he ordinarily resides, a true state ment in writing in prescribed form containing the following particulars in respect of every debt due by him on the appointed day to his creditors, namely :— (i) full particulars of the debt; (ii) the name and residence of the creditor and if there are joint creditors, the names and residences of all joint creditors; (iii) the place where the debtor resides; (iv) particulars showing that he is a debtor and also showing whether he is a marginal farmer, small farmer, rural artisan or rural labourer; (v) in the case of a debtor who is a rural artisan, the amount of his income per year; (vi) such other particulars as may be prescribed. (2) Any of the creditors of a debtor may also furnish, within the period prescribed under sub-section (1), to the local authority within whose jurisdiction the debtor, ordinarily resides a true statement in writing in prescribed form containing the following particulars in respect of the debt or debts due to him by the debtor, namely :— (i) full particulars of the debt, (ii) the name and residence of the debtor, (iii) the place where the creditor resides, (iv) particulars showing whether the debtor is a marginal farmer, small farmer, rural artisan, or rural labourer, (v) such other particulars as may be prescribed. Explanation 1.—For the purpose of this section, "local authority" means,— (a) in the case of a debtor who ordinarily resides within the jurisdiction of a gram panchayat, nagar panchayat, borough municipality or a municipal corporation, the gram panchayat, the nagar panchayat, the borough municipality or the municipal corporation, as the case may be, within whose juris- diction he resides; (b) in any other case, such authority as may be prescribed, Explanation 2.—If a debtor does not ordinarily reside in any place within the jurisdiction of any local authority but holds land in any such place, he shall be deemed to reside at such place.