Legal Question in Bankruptcy in India

Bankruptcy

I need some advice on what i should do next ... I run a business of exports and have suffered huge losses due to exhange because of order cancellations and also a party has defaulted the bank might call the company a npa i also have unsecured personal loans of huge amounts ... I have no assets left onmy name everything has been given to the bank ... At this moment what should i do file for bankruptcy ..Will this help me


Asked on 2/04/09, 9:34 am

2 Answers from Attorneys
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: Bankruptcy

Yes, you may consider filing for bankruptcy and seek a declaration of being insolvent.

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Answered on 2/04/09, 2:11 pm
Homi Maratha N.N. Maratha & Co.-Advocates

Re: Bankruptcy

You may file a petition of insolvency.

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Answered on 2/06/09, 12:52 am


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