Section 80(2) in Insolvency And Bankruptcy Code, 2016
(2)A debtor may apply, either personally or through a resolution professional, for a fresh start under this Chapter in respect of his qualifying debts to the Adjudicating Authority if -(a)the gross annual income of the debtor does not exceed sixty thousand rupees;(b)the aggregate value of the assets of the debtor does not exceed twenty thousand rupees;(c)the aggregate value of the qualifying debts does not exceed thirty-five thousand rupees;(d)he is not an undischarged bankrupt;(e)he does not own a dwelling unit, irrespective of whether it is encumbered or not;(f)a fresh start process, insolvency resolution process or bankruptcy process is not subsisting against him; and(g)no previous fresh start order under this Chapter has been made in relation to him in the preceding twelve months of the date of the application for fresh start.
