Legal Question in Bankruptcy in India
What is the procedure of filing bankruptcy. And who can file the bankrupt.
Asked on 1/13/10, 1:45 am
1 Answer from Attorneys
Sudershan Goel
India Law Offices of Sudershan Goel - Advocate
If a person's liabilities exceeds his assets and he is unable to pay his debts, he may file for bankruptcy.
A petition is required to be filed in the local civil courts.
It may be better to contact a local lawyer to pursue your remedy.
Answered on 1/13/10, 9:31 am
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