Dear Mr. Amith Kumar,
Please note that an individual can file an insolvency petition if he/she is unable to pay his/her debts and needs protection from creditors. You have to declare your both assets and liabilities while filing the insolvency petition before jurisdictional court.
Please note that once you are declared as insolvent person by any competent court ,
you will become an incompetent person in the eye of law.
M M Shetty 9448085404