Section 123(2) in Insolvency And Bankruptcy Code, 2016
(2)An application under sub-section (1) made in respect of a debt which is secured, shall be accompanied with-(a)a statement by the creditor having the right to enforce the security that he shall, in the event of a bankruptcy order being made, give up his security for the benefit of all the creditors of the bankrupt; or(b)a statement by the creditor stating-(i)that the application for bankruptcy is only in respect of the unsecured part of the debt; and(ii)an estimated value of the unsecured part of the debt.
