Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 ) 19 November 2017
Insolvency petition can be filed at a district court having jurisdiction in which the debtor resides or carries on business. If the debtor has already been arrested or imprisoned, then the insolvency petition can be filed where he/she is in custody. Once an insolvency petition is filed, the Court can appoint an interim receiver after presentation of the insolvency petition or before an order is made. On making an order of adjudication, the property of an insolvent individual would vest with the official assignee or the receiver and becomes divisible among the creditors.
Rakhi Jadav 19 November 2017