Legal Question in Banking Law in India

Insolvency

is there any Insolvency law in india


Asked on 10/03/08, 7:51 am

5 Answers from Attorneys
muhamed mustaque mk associates

Re: Insolvency

yes there is, Insolvency Act

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Answered on 10/03/08, 8:21 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: Insolvency

Yes, there is an Insolvency Act which provides for declaring a person insolvent.

The famous case in the recent history was that of Ms J. Jayalalita who got discharged from the insolvency at the eve of her first election.

if you need more details, you are welcome to contact me.

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Answered on 10/03/08, 8:26 am
Aniruddha Pawse Aniruddha.P.Pawse Advocates

Re: Insolvency

Yes there is

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Answered on 10/03/08, 9:41 am
J. Radhakrishnan independent Practice

Re: Insolvency

yes, For Chennai, Kolkatta and Mumbai cities there is the Presidency Towns Insolvency Act and for the rest there is the Provincial Insolvency Act. There is a mistake in Sudershan Goel's answer as Jayalalitha was never adjudged as insolvent

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Answered on 10/03/08, 9:51 am
Nasir Butt Nasir Law Associates

Re: Insolvency

Yes, following are laws:---

1. Presidency-towns Insolvency Act, and

2. Provincial Insolvency Act.

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Answered on 11/05/08, 10:04 am


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