Section 4 in The (Central Provinces and Berar) Debt Conciliation Act, 1933
4. Application for settlement between debtor and his creditors. - [(1) In the [Mahakoshal region excluding merged territories], a debtor or any of his creditors may apply to the Board appointed for the area in which any holding, land or village of the debtor, or any part thereof, is situate, to effect a settlement between the debtor and his creditors [X X X] :
Provided that no application shall be made if the debtor's debts exceed fifty thousand rupees or such larger amount as may be prescribed for each area.](2)No debtor or creditors shall simultaneously make more than one application, and where applications have been made by the debtor and any of his creditors, the applications made by the creditors shall be merged in the application made by the debtor.
