Legal Question in Bankruptcy in India
Filling for insolvency
I have a debt of around 3 lakhs,by loan & credit card n recently had loss in stocks were I lost all the moneyn don�t have any thing to pay back the debt n I m falling behind,suggest me
Asked on 4/22/09, 10:40 pm
2 Answers from Attorneys
Bala Gatla
Not Applicable
Re: Filling for insolvency
Hi,
File an insolvency petition before the respective court, by mentioning all your assets and liabilities.
Best Regards,
BG
Answered on 4/22/09, 11:40 pm
Sudershan Goel
India Law Offices of Sudershan Goel - Advocate
Re: Filling 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, 4:56 am
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