(1) On the date fixed, the Board shall publish, in such manner as may be prescribed, a notice, calling upon every creditor of the debtor to submit a statement of debts owed to such creditor by the debtor. Such statement wherein the creditor shall show whether he is registered under the Punjab Registration of Money Lenders Act, 1983 (Punjab Act 3 of 1938), and had complied with the provisions thereof, shall be submitted to the Board in writing within a period of two months from the date of publication of the notice:
Provided that, if the Board is satisfied that any creditor was, for good and sufficient cause, unable to comply with such direction or to produce the documents required under sub-section (1) of section 11 within the period fixed, it Particulars to be stated in application.
Procedure on receipt of application.
Notice calling upon creditors to submit statements of debts.
1 Substituted by Haryana Act 8 of 1991.
1989 : Hr. Act 9] RELIEF OF AGRICULTURAL INDEBTEDNESS 116 may extend the period for the submission of his statement of the debts owed to him or for the production of such documents.
(2) Every debt owed to a single creditor of which no such statement has been submitted to the Board in compliance with the provisions of sub-section
(1) shall be deemed to be duly discharged for all purposes and all occasions against such creditor; and every debt owed to two or more creditors jointly, of which such a statement or statements signed by all such creditors or their recognized agents has or have not been so submitted, shall be deemed to be so discharged against such creditors as have failed to submit the said statement but only to the extent of their respective shares in the said debt.
(3) If the creditor or any of the joint creditors fails without sufficient cause to be present in person or by his recognized agent or with the permission of the Board by legal practitioner, in accordance with the provisions of section 20, at any of the hearings fixed by the Board, or fails to produce full particulars and documents as required under sub-section (1) of section 11, the debt due to him or the joint creditors, as the case may be, shall be deemed for all purposes and all occasions to have been fully discharged.
(4) If any creditor proves to the satisfaction of the Board that the notice was not served on him and that he had no knowledge of its publication or that he was unavoidably absent at any of the hearing fixed by the Board, the Board may revive that debt.