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Insolvency
Download Indian insolvency templates: creditor/debtor petitions, corporate debtor drafts, and discharge applications with filing requirements and practical tips.
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Quick Overview
All templates are provided for reference and should be reviewed by legal professionals before use.
Frequently Asked Questions
Common questions about Insolvency legal templates
What is insolvency under Indian law?
It is the legal state of inability to pay debts. Corporate cases are under the IBC, 2016, while individual matters are under notified IBC provisions and legacy laws.
Who can file an insolvency petition?
Creditors or the debtor can file. For corporates, Sections 7–10 of the IBC apply; for individuals, creditors or debtors may petition per applicable statutes.
What templates are included on this page?
Creditor petitions to declare debtor insolvent, debtor petitions, a corporate debtor insolvency draft, and a petition for discharge of an insolvent.
What are typical documents required for filing?
Petition, affidavit, Vakalatnama, creditor list, proof of debt/default, asset-liability details, court fee, and copies for service/publication as per local rules.
Where do I file an individual insolvency petition?
Before the jurisdictional court or DRT as applicable, generally where the debtor resides or carries on business, per governing notifications and rules.
What is the minimum default for corporate insolvency?
A statutory threshold applies for corporate debtors under the IBC. Verify the current notified limit before filing.
What is the moratorium under Section 14 IBC?
Upon admission of a corporate insolvency application, a moratorium stays suits, enforcement, and transfers against the corporate debtor during CIRP.
What should a debtor include in a petition?
Jurisdiction facts, inability to pay debts, list of creditors and claims, details of property, pending suits/decrees, and any prior insolvency history.
Can personal guarantors be proceeded against?
Yes. The IBC covers personal guarantors to corporate debtors for specified purposes, with proceedings aligned to the jurisdiction of the NCLT handling the CIRP.
What is a petition for discharge of an insolvent?
After adjudication, the insolvent may seek discharge to be released from provable debts, subject to conditions and the court’s satisfaction.