1.What is the court fee payable for filing Insolvency petition either by creditor or debtor?and the relevent provision of law for court fees. 2.Territorial and Pecuniary Jurisdiction of courts in Insolvency proceedings.(inrespect of individual creditor or debtor)
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Court fees
2.(a)
Petition Under Section 26 of the Provincial Insolvency Act, 1920 Or application under section 95 of the Code of Civil Procedure.1908.
An amount of one-half of the scale of fee prescribed in Article 1 on the amount or compensation claimed.
2) Insolvency petition can be filed at a district court having jurisdiction in which the debtor resides or carries on business.
1. If the litigant is found to be indigent person then he is not required to file any ad voleram court fees.
2. There is no separate provision for territorial or pecuniary jurisdiction for insolvency proceeding. So prevision of CPC is equally applicable to determine its jurisdiction under normal circumstances.
1. Refer schedule 1 for court fee om insolvency petition in below link.
https://www.google.co.in/url?sa=t&source=web&rct=j&url=http://ecourts.gov.in/sites/default/files/Courtfee%2520TN_0.pdf&ved=2ahUKEwj166Hcu6zbAhWJvY8KHVf8DeAQFjAAegQIBxAB&usg=AOvVaw0XAPj-kkb89edloY1S5T2B
2. Jurisdiction shall be in accordance to civil procedure code and it shall be where the debtor resides or carries a business.
Insolvency petition can be filed at a district court having jurisdiction in which the debtor resides or carries on business. Petition Under Section 26 of the Provincial Insolvency Act, 1920 Or application under section 95 of the Code of Civil Procedure.1908. An amount of one-half of the scale of fee prescribed in Article 1 on the amount or compensation claimed.
10 rupees is the court fees, senior Civil Judge Court is the jurisdiction for filing insolvency petition and respondent not necessary to pay Court fees but recent act referred debt recovery Tribunal is proper forum for filing insolvency petition under bankruptcy and insolvency code 2016
1. The court fee is one-half of the scale of fee prescribed in Article 1 on the amount or compensation claimed.
2. Insolvency petition can be filed at a district court having jurisdiction in which the debtor resides or carries on business. If the debtor has already been arrested or imprisoned, then the insolvency petition can be filed where he/she is in custody.
In think there is nominal fee for filing insolvency petition under The Provincial Insolvency Act, 1920.
For jurisdiction please refer below:-
Section 11. Court to which petition shall be presented.—Every insolvency petition shall be presented to a Court having jurisdiction under this Act in any local area in which the debtor ordinarily resides or carries on business, or personally works for gain, or if he has been arrested or imprisoned, where he is in custody: Provided that no objection as to the place of presentment shall be allowed by any Court in the exercise of appellate or revisional jurisdiction unless such objection was taken in the Court by which the petition was heard at the earliest possible opportunity, and unless there has been a consequent failure of justice.
Regards,
Court fees is nominal and jurisdiction of Local district court of permanent address.
1. As per Tamil Nadu court fees and suits valuation act, the court fee is 8% of the total value claimable by the applicant.
2. The application can be filed in Additional civil court of the jurisdiction.
Insolvency petitions are filed by the debtors or creditors only under sections 9 to 13 of provincial Insolvency Act to declare as insolvent. No question of compensation, based on which to fix the court fees. Nowhere either in the Court fees act or in the Insolvency Act Court fee is not prescribed for the petitions filed under these sections. Secondly though in the Act jurisdiction has been conferred on District Courts the state Govt may by notification confer jurisdiction on Subordinate Courts(Senior Civil Judge).That is why Insolvency petitions are filed even in SubCourts.But my dought is if the value of the debt is Rs.9,00,000/- Where to file whether in the District Court or Senior Civil Judge Court which has pecuniary jurisdiction upto Rs.10,00,000/-. Is there any decisions with regard to this pecuniary jurisdiction. Thirdly The Provincial Insolvency Act has now been repealed by a new Act " Bankruptcy and Insolvecy Code 2016 it was though aimed at corporates it also has provisions with regard to individuals but with confusion.The DRTs which had been given jurisdiction by the new code, refuses to take on file by the individuals.
You can file insolvency petition in senior civil judge court having jurisdiction of ultimate Rs 10 lakhs
2) the rules for bankruptcy code fir individuals have not yet been framed
3) The corporate affairs ministry has asked debt recovery tribunals (DRTs) to provide a separate route for resolving individual insolvency cases so that such applications can be expedited. The government is expected to announce the framework for notification for individual insolvency.
4) The code for individual insolvency is likely to be implemented in phases, according to officials. In the first phase, the policy will focus on individuals who are guarantors to corporates undergoing resolution process.
Court fee payable under section 53 or 54 of the provincial insolvency act, 1920 in Tamilnadu is on the subject matter and maximum Rs. 500/=
The territorial and pecuniary jurisdiction in civil matters is usually set in concerned state enactments on the subject of civil courts. ... Appeals from the district courts lie to the High court of the concerned state. Jurisdiction Of Civil Courts In India. Jurisdiction of civil courts can be divided on two basis.
urisdiction of civil courts can be divided on two basis.
Pecuniary/Monetary
Territorial / Area Wise Classification
Pecuniary/Monetary Jurisdiction
Pecuniary jurisdiction of the court divides the court on a vertical basis.
At present the pecuniary jurisdiction of the Delhi courts is as follows:
· Suits amounting to Rs.1 - Rs.20, 00,000 lie before district courts.
· Suits over and above Rs. 20,00,000/- lie before High Courts.
It is very important to note that the amount of pecuniary jurisdiction is different for all High Courts. This limit is decided by respective High Court Rules.
In many states High court has no pecuniary jurisdiction. All civil suits go before District Courts, and only appeal lies before High Court
1. If petition is filed according to the above information then the court would reject the petition at the 1st motion itself.
2. I submit that the above information is wrong according to http://ecourts.gov.in/node/9721 .
3. There are many SC citations available for the same. Book a consultation slot to discuss one among them briefly.