(1)A debtor, who is unable to pay his debt and fulfils the conditions specified in sub-section (2), shall be entitled to make an application for a fresh start for discharge of his qualifying debt under this Chapter.
(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.