Legal Question in Bankruptcy in India
bankruptcy
what is bankruptcy in detail? I want to know about bankruptcy chapters also? Procedure of how to file a bankruptcy in India?
What is notice of appearance?
What is the role of attorney
What is Motion for relief, Consent of order and reaffirmation in bankruptcy?
Is a bankruptcy person is responsible to pay his debt ?
Asked on 2/28/09, 2:44 pm
1 Answer from Attorneys
Sudershan Goel
India Law Offices of Sudershan Goel - Advocate
Re: bankruptcy
The bankruptcy laws are State and situation specific. The debts of a bankrupt person are discharged by the courts out of his assets on proportionate basis, after leaving sufficient money for his living. It may be better to engage a lawyer who may educate you on all different aspects of insolvency laws and the effects of being insolvent.
Answered on 2/28/09, 9:37 pm
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