Legal Question in Bankruptcy in India
declaration of bankruptcy
how to declare the bankruptcy and what is the punishment in this regard.huge debt in the form of credit card dues only.
Asked on 4/09/09, 6:16 am
1 Answer from Attorneys
Sudershan Goel
India Law Offices of Sudershan Goel - Advocate
Re: declaration of bankruptcy
There is no punishment in declaring bankruptcy. The insolvency court may apportion your assets and income vis-a-vis your debts.
Answered on 4/09/09, 7:51 am
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