Legal Question in Bankruptcy in India
Bankruptcy
If i file for bankruptcy, what will be the effect on my LIC policy - mediclaim - PAN cards ? Kindly answer me.
Asked on 3/09/09, 2:02 pm
1 Answer from Attorneys
Sudershan Goel
India Law Offices of Sudershan Goel - Advocate
Re: Bankruptcy
All such issues may be decided by the insolvency court. Of course you may need to surrender your PAN card. The income will be distributed towards your liabilities / debts;
if your income is ever more than your liability, you will no more be bankrupt and may be discharged from insolvency.
Answered on 3/09/09, 5:18 pm
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