Application for initiation of individual insolvency resolution process can be submitted by a debtor only in respect of debts which are not excluded debts. Which debts are to be treated as excluded debts?

Section 94 of the Insolvency and Bankruptcy Code, 2016 deals with the application by debtor to initiate insolvency resolution process. A debtor who commits a default may apply, either personally or through a resolution professional, to the Adjudicating Authority for initiating the insolvency resolution process, by submitting an application. [(Section 94(1)] An application under sub-section (1) shall be submitted only in respect of debts which are not excluded debts. [Section 94(3)] Excluded Debts: Section 79(15) of the Code defines excluded debts, which means: liability to pay fine imposed by a court or tribunal; liability to pay damages for negligence nuisance or breach of a statutory, contractual or other legal obligation; liability to pay maintenance to any person under any law for the time being in force; liability in relation to a student loan; any other debt as may be prescribed.