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The provisions of Article XI of the Protocol, subject to the declaration deposited by India, shall apply, mutatis mutandis , for remedies on insolvency under any law for the time being in force: Provided that--- (a) the debtor of the agreement is a--- (i) body corporate or firm, incorporated or registered in India; or (ii) person, domiciled in or has his principal place of business in India; (b) the international interest of the agreement has been registered in accordance with the Convention and Protocol; and (c) the debtor and creditor have not by written agreement excluded the application of this section.