Bankruptcy and insolvency

Expert Corporate lawyers for Bankruptcy and Insolvency Litigation in Jaipur & India

Bankruptcy is a lawful process where an individual or any entity when unable to repay its debts to the creditor can discharge the liability by declaring itself bankrupt.

The law or act which governs the proceeding for bankruptcy in Insolvency and Bankruptcy Code, 2016. It provides a combined structure that controls proceedings with respect to individual, company, or partnership firms. The process may either be initiated by the creditors as well as the debtors.

The proceedings are governed by licensed professionals who have control over the assets of the debtor during the whole process. The code also establishes a Board under it for the proceedings having 10 members consisting of representatives from the Reserve Bank of India and Ministries of Finance and Law. The code also provides the maximum time by which the proceeding must be completed. The time limit for an individual and company differs. The minimum amount which makes a company defaulter is 1 crore.

So, If You Are Thinking Of Choosing A Advocate For Insolvency and Bankruptcy Or One Of The Best Legal Consultancy Firms In Jaipur, Then Don’t Hesitate To Call Us @ 1800-8899-551(toll-free).

The proceeding is conducted at:

(i) The National Company Law Tribunal (NCLT) for Companies and Limited Liability Partnership firms

(ii) the Debt Recovery Tribunal (DBT) for individuals and partnerships.

The NCLT shall within 14 days from the date of application either approve or may by order reject the application.

How can THELEGALCOURT help you in Bankruptcy Matters in Jaipur & Rajasthan?

The law relating to bankruptcy and insolvency is continuously changing and evolving. Our specialist keeps them updated with all the amendments that have been made. We have been dealing with bankruptcy and insolvency issues and to serve clients looking for ease as lenders, creditors, debtors, investors, or in any other capacity. We guide on exit strategies, refinancing, debt restructuring, distressed debt trading, and investment in distressed assets. 

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