Legal Question in Bankruptcy in India
What's insolvency?
My dad lost almost everything in business.. so we have to pay our investors about a crore of money.. all that is left is a job for me and my mom... and few furnitures at office and home as our movable and immovable assets.. In this case what will happen if i file a insolvency?
Asked on 11/05/11, 4:48 am
1 Answer from Attorneys
Sudershan Goel
India Law Offices of Sudershan Goel - Advocate
All the consequences of insolvency cannot be detailed here. You may contact a local lawyer with complete documents of your case; and meanwhile, go through the Insolvency Act.
Answered on 11/06/11, 10:45 am
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