Provincial Insolvency Act,1920

Act No : 5

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Section : Petition and adjudication

7. Petition and adjudication.-Subject to the conditions specifiedin this Act, if a debtor commits an act of insolvency, an insolvencypetition may be presented either by a creditor or by the debtor, andthe Court may on such petition make an order (hereinafter called anorder of adjudication) adjudging him an insolvent. Explanation.--The presentation of a petition by the debtor shallbe deemed an act of insolvency within the meaning of this section, andon such petition the Court may make an order of adjudication.

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