Section 4 in The Assam Debt Conciliation Act, 1936
4. Application for settlement between debtor and his creditor.
(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.(2)Where applications have been made by the debtor and any of his creditors, the applications made by his creditors, shall be merged in the application made by the debtor.(3)If applications are made to more than one Board in respect of the debts made by the same debtor, such application shall, subject to the rules prescribed, be transferred to and dealt with by one Board.(4)The State Government may, at any stage of a proceeding, transfer the proceeding from one Board to another, and the Board to which it is transferred shall have jurisdiction to deal with it.
