(1) A debtor or any of his creditors may apply to the Forum within whose jurisdiction, the debtor resides or holds any land to determine and settle the debt between the debtor and his creditor(s).
Establishment of Debt Settlement Tribunal.
Transaction of business of the Forum and Tribunal.
Acts of the Forum or the Tribunal not to be invalid by certain defects.
Application for determination and settlement of debt.
(2) An application to the Forum shall be made in writing and signed by the applicant.
10. An application under this Act, shall be presented to the Chairman and it shall contain the following particulars, namely: -
(a) in the case of a debtor –
(i) the place where he resides or holds land;
(ii) the particulars of all claims against him together with names and residences of his creditors;
(iii) a statement that his total amount of debts does not exceed rupees fifteen lacs;
(iv) a statement whether he has previously filed an application in respect of the same debt before the Forum and if so, then the outcome thereof; and
(v) a statement of grounds of application and relief claimed alongwith copies of documents relied upon; and
(b) in the case of a creditor(s) -
(i) the place where the debtor resides or holds land;
(ii) the amount and particulars of his claim against such debtor; and
(iii) a statement of grounds of application and relief claimed along with copies of documents relied upon.