WHAT IS THE PROCESS FOR FILIFILING A BANKRUPTCY CLAIMING A BANKRUPTCY CLAIM?
Making The Important Financial Decision To File For Bankruptcy Might Help People Or Organizations Who Are Drowning In Debt. Debtors Who File For Bankruptcy Can Restructure Or Pay Off Their Debts With The Court's Protection. While The Step Involved May Seem Overwhelming, Some Of The Anxiety It Causes Can Be Minimized By An Understanding Of The Mechanisms. The Filing Process For Bankruptcy In India Is Regulated By The Insolvency And Bankruptcy Code (IBC), 2016. The Object Of This Statute Is To Improve The Process Of Bankruptcy For Individuals, Businesses, And Financial Service Providers. The IBC is Designed To Ensure The Resolution Of Insolvency Without Undue Delay In Favour Of Creditors And Debtors Alike. The Procedure For Making A Claim In Accordance With This Statute On Bankruptcy Is Aimed At Either Restructuring The Debtor’s Estate Or Selling It Off, For Purposes Of Providing Relief To The Debtor. Insolvency And Bankruptcy Code 2016: Key Concepts Corporate Insolvency Resolution...