Legal Question in Bankruptcy in India
Filing for insolvency
I have debt of around 3 lakh...
By loan & credit card,n recently i had a loss in stock market were i lost all the money, i dont have any thing to pay the debt ,suggest me what to do
Asked on 4/22/09, 10:31 pm
2 Answers from Attorneys
Bala Gatla
Not Applicable
Re: Filing for insolvency
File an Insolvency petition before the respeictive court by narrating all the circumstances which led to bankruptcy, then the court will decide.
Best Regards,
BG
Answered on 4/22/09, 11:43 pm
Sudershan Goel
India Law Offices of Sudershan Goel - Advocate
Re: Filing for insolvency
You may try to sell your assets and meet your liability. If you cannot, you may consider filing bankruptcy.
Answered on 4/23/09, 4:55 am
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