s 111 Bankrupt incurring debt without reasonable ground of expectation of paying it
Any person who has been adjudged bankrupt or in respect of whose estate a bankruptcy order has been made shall be punished with imprisonment which may extend to two years or with fine or with both— (a) if within twelve months next before the presentation of a bankruptcy petition by or against him he incurs any debt provable in bankruptcy unless he proves to the satisfaction of the court that he had reasonable ground of expectation of being able to pay it; (b) if having been engaged in carrying on any trade or business, he continues to trade or carry on business, by incurring any debt or indebtedness provable in bankruptcy within twelve months next before the date of a bankruptcy petition by or against him, unless he proves to the satisfaction of the court that he was solvent at the date of incurring such debt or, in the case of indebtedness, at the date of the incurring of the first item of such indebtedness, that he had reasonable ground of expectation of being able to pay it.