Section 4(1) in The Assam Debt Conciliation Act, 1936
(1)A debtor or any of his creditors may apply to the Board appointed for the area in which the debtor ordinarily resides, to effect a settlement between the debtor and his creditors:Provided that no application shall lie if the debtor's debts be less than Rs. 50 or more than Rs. 5,000.
