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[Cites 0, Cited by 0] [Section 83] [Entire Act]

Union of India - Subsection

Section 83(5) in Insolvency And Bankruptcy Code, 2016

(5)The resolution professional shall presume that the debtor is unable to pay his debts at the date of the application if-
(a)in his opinion the information supplied in the application indicates that the debtor is unable to pay his debts and he has no reason to believe that the information supplied is incorrect or incomplete; and
(b)he has reason to believe that there is no change in the financial circumstances of the debtor since the date of the application enabling the debtor to pay his debts.