"The intent of fresh start process is to provide debtors with comparatively small debts, a chance to discharge off their debts and restart afresh without any liability. The fresh start process is an alternative to the in

The contents of the affirmation as per Section 81 (4) of the Insolvency and Bankruptcy Code, 2016 provides that an application filed for fresh start process shall be in such form and manner and accompanied by such fee as may be prescribed by the Regulations after their enforcement and shall contain the following information supported by an affidavit namely: list of all debts owed by the debtor as on the date of the said application along with detail relating to the amount of each debt, interest payable thereon and the names of the creditors to whom each debt is owed; the interest payable on the debts and the rate thereof stipulated in the contract; list of security held in respect of any of the debts; the financial information of the debtor and his immediate family for up to two years prior to the date of the application; the particulars of the debtor's personal details, as may be prescribed; the reasons for making the application; the particulars of any legal proceedings which, to the debtor's knowledge has been commenced against him; and The confirmation that no previous fresh start order under the provisions of the Code has been made in respect of the qualifying debts of the debtor in the preceding twelve months of the date of the application.