Legal Question in Bankruptcy in India
bankruptcy
My enquiry is regarding whether it is essential or not to inform the court exact capital outstanding of the loan or card at the time of filing bankruptcy?
If the court declare a person bankruptcy, is there any law that the court withdraw the decision with sort of period?
How the court informs the banks about a bankruptcy person?
Asked on 3/02/09, 7:00 am
1 Answer from Attorneys
Sudershan Goel
India Law Offices of Sudershan Goel - Advocate
Re: bankruptcy
The Bank may be impleaded as a party-defendant in the bankruptcy proceedings. The bank will be entitled to file appropriate reply to your petition; and if you have concealed any asset, the bank may bring that on record.
Answered on 3/02/09, 8:46 am
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