Amendment status not verified — confirm the current text below against the official source.
An application under this Act, shall be presented to the Chairman and it shall contain the following particulars, namely:- (a) in the case of a debtor - Establishment of Debt Settlement Tribunal. Transaction of business of the Forum and Tribunal. Acts of the Forum or the Tribunal not to be invalid by certain defects. Application for determination and settlement of debt. Particulars of application. Procedure on receipt of application, Notice calling upon the creditor to submit statement. PUNJAB GOVT. GAZ. (EXTRA), MAY 4, 2016 (VYSK 14, 1938 SAKA) resides or holds land; 50 (i) the place where he | (ii) the particulars ofall claims against him together with names ‘ and residences of his creditors; (iii) a statement that his total amount of debts does not exceed rupees fifteen lacs; (iv) astatement whether he has previously filed an application in respect of the same debt before the Forum and if so, then the outcome thereof; and (v) a statement of grounds of application and relief claimed alongwith copies of documents relied upon; and (b) inthe case of a creditor(s) - (i) the place where the debtor resides or holds land; (ii) the amount and particulars of his claim against such debtor; and (iii) a statement of grounds of application and relief claimed alongwith copies of documents relied upon.