After taking accounts under section 22 the Court shall in the manner hereinafter provided determine-
(1) the particulars of the property belonging to the debtor,
(2) the value of the said property,
(3) the particulars of any incumbrances on the said property, and
(4) the paying capacity of the debt or
(1) the particulars of the property belonging to the debtor,
(2) the value of the said property,
(3) the particulars of any incumbrances on the said property, and
(4) the paying capacity of the debt or
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More sections of this act
Section 1 · Short title and extent.Section 2 · Definitions.Section 3 · Savings.Section 4 · Application for adjustment of debts.Section 5 · Every creditor and debtor to file a true and correct statement before Court.Section 6 · Application by debtor jointly and severally liable.Section 7 · Assignees from non-debtor not entitled to benefit of this Act.Section 8 · Application for recording settlement.India Code, Government of India. Text fetched 17 Oct 2026. Check the linked official text and subsequent notifications when applying a provision.