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Showkath (Software Engineer)     05 July 2017

Insolvency petition query (ip) - andhra pradesh

Dear Sirs,

Insolvency petition query --

My uncle has suffered business losses. As a result, he owes 60L to private lenders (not banks). He has recently consulted a laywer to file an insolvency petition in the court (AP jurisdiction) as he is unable to pay this and need protection from his lenders.

However, his laywer told him that IP petitions are not currently being accepted by the courts across India. I can't find any news that tells why courts do not accept.  

So my question is -- Is this true that courts are not accepting IP petitions? If yes, how can my uncle seek protection from his lenders? What options he has got?

Your help is very much appreciated.

Thanks in advance 





 6 Replies

Law Aspire (Legal)     05 July 2017

At Present the provisions of Insolvency and Bankruptcy code,2016 are not  notified for individuals, and after notification the matters will be filed in Debt recovery tribunal and not in courts.

This is the reason why courts will not entertain insolvency applications.




Showkath (Software Engineer)     05 July 2017

Thank you for quick response. It is very much appreciated. If could let me know the procedrue to file IP with Debt recovery tribunal that would be great. Thanks again for your time




yeS SIR,ITS TRUE.iF U NEED ANY LEGAL OPINION OR Drafting of the same,inbox me ...regards

Vinod shah (legal assistance for victims of system.     05 July 2017

It has been notified far all.

Far companies it is NCLT and individuals DRT.


Send more details for guidance.

rajeev sharma (Advocate Ex senior manager law )     05 July 2017

Provincial Insolvency Act

rajeev sharma (Advocate Ex senior manager law )     05 July 2017

Provincial Insolvency Act which hitherto governed matters of individual insolvency has been repealed and jurisdiction of civil court has been barred so civil courts are not accepting insolvency petition. You as advised above will have to file an application before DRT. Consult any insolvency professional or a good lawyer

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