Section 18(1) in The Life Insurance Corporation of India (Agents) Regulations, 2017
(1)If an agent applies to a court of competent authority for being adjudged insolvent or is adjudged insolvent by such court, the competent authority may direct him to forthwith discontinue soliciting or procuring new life insurance business and the agent shall not thereupon solicit or procure new life insurance business until the court grants an absolute order of discharge and the competent authority revokes its earlier direction.
