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Consult and Get Legal Advice from Bankruptcy and Debt Expert Lawyers in Hyderabad

YAKUB ALI MOHAMMED

ADVOCATE
Exp
Hyderabad , Telangana

Specialization

  • Bankruptcy and Debt
  • Criminal
  • Civil
  • Divorce
  • Juvenile
Myself Yakub ali done B.com, LLB, LLM Student at ICSI practicing Advocate in Telangana major cities and almost all Courts. My Passion is to To Advice, To Solve, To Encourage, To Motivate, To Inspire Young Minds, And To Create Stress Less Life By Serving The People Globally. View Full Profile

Sunku Chandra Sekhar

Advocate
Exp
Hyderabad , Telangana

Specialization

  • Bankruptcy and Debt
  • Civil
  • Arbitration And Mediation
  • Banking
  • Child Custody
• 23 years experience as Independent Advocate, in Civil, Criminal, Bails, Negotiable Instruments Act, Banking & Sarfaesi Act, Landlord and Tenant, Family & Matrimonial, Debts Recovery & Insolvency, Arbitration, MV Act, Gaurdians and Wards Act, Revenue Laws and giving Legal Opinions to the Properti View Full Profile

VLN Prasad

Advocate
Exp
Hyderabad , Telangana

Specialization

  • Bankruptcy and Debt
  • Corporate and Incorporation
  • Cheque Bounce
  • Cyber, Internet, Information Technology
  • Arbitration and Mediation

Srinivas B

Junior Advocate
Exp
Hyderabad , Telangana

Specialization

  • Bankruptcy and Debt
  • Cheque Bounce
  • Divorce
  • Civil
  • Criminal
As an Advocate, both professionally and ethically and has acquired excellent professional experience and provides services in various fields of Corporate Law, Cheque Bounce, Family Matters, Consumer Matters, Recovery, Banking/ Finance, Divorce, Criminal and Civil, Property and Tenant/Landlord View Full Profile

KARAN PANDEY

Associate
Exp
Hyderabad , Telangana

Specialization

  • Bankruptcy and Debt
  • Intellectual Property, Copyright, Patent, Trademar
  • Criminal
  • Divorce
  • Tax
I understand the virtues of helping a fellow man and the boons it brings. I have been appearing in matters relating to company laws and I&B Code before the NCLT at Hyderabad and Chennai. I have also appeared before the National and State Consumer Forum and also the Telangana High court at Hyderabad. View Full Profile
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  • What are the laws on bankruptcy & debt in India?
  • What does it mean when a debtor is discharged?
  • Can a creditor collect on a discharged debt?
  • Can discharged debt be sold?
  • How long does a creditor have to collect a debt?

About bankruptcy & debt Laws


The primary law dealing with the subject of bankruptcy and debt laws is the Insolvency and Bankruptcy Code 2016.

The Insolvency and Bankruptcy Code, 2016 (IBC) is a substitution to separated legal framework and a split institutional set-up which was kept on passing on poor outcomes for a significant long time loan bosses and troubled business searching for an exit. This will profit everybody loan bosses, troubled business, economy and the estimation of the assets will be expanded. The manner by which the law is starting at now being realized seems to focus more on fast operationalisation. It has presented the time bound determination process which is the 180-day course of events talks profoundly about the point of the IBC – fast assurance of insolvency to help with the recuperation as to win in the economy where there is more capability about the recuperation system and expanding the estimation of assets of bothered business. Since the IBC accommodates a period bound system, it puts gigantic weight on the promoters as wells as the lenders to quick track a trade off recipe or risk the asset being liquidated.

Bankruptcy is a legal proceeding involving a person or business that is unable to repay outstanding debts. Some of the distinguishing elements of the code are-

  • Comprehensive law – this code is a comprehensive law which envisages and regulates the process of insolvency and bankruptcy of all persons including corporates, partnerships, LLP’s and individuals.
  • Withering away of Multiplicity of Laws – Code withered away multiple laws covering the recovery of debts and insolvency and liquidation process and presents singular platform for all the reliefs relating to recovery of debts and insolvency.
  • Clarity in Process- there is a clear and unambiguous process to be followed by all stakeholders. There is also shift of control from shareholders and promoters to creditors.
  • New Regulatory Authority- it provides for constitution of a new regulatory authority, ‘Insolvency and Bankruptcy Board of India’ to regulate professionals, agencies and information utilities engaged in resolution of insolvencies of companies, partnership firms and individuals.

The Code plots a bankruptcy assurance handle for individuals, associations and affiliation firms. As showed by the Section 6 of the code it is communicated that the method may be begun by either the corporate record holder or the financial lenders and operational advance managers. The most extraordinary time limit of 180 days and 90 days increase just if the Adjudicating Authority is persuaded for realization of the very system, has been set for corporates and individuals.

There are two types of tribunals. For Companies and Limited Liability Partnership Firms there is The National Company Law Tribunal (NCLT) and for people and associations there is the Debt Recovery Tribunal (DRT).

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Client Testimonials

Top Responding Lawyers
on Bankruptcy and Debt Laws

Experience: 33 Year(s)
Retired Judge
Bangalore
Experience: 2 Year(s)
As a advocate
Aurangabad
Experience: 9 Year(s)
Lawyer and legal associate
Nanded
Experience: 22 Year(s)
Advocate
Bhubaneswar
Experience: 9 Year(s)
Adv.Ambrose Leo Associates & Legal Consultants
Bangalore
Experience: 19 Year(s)
Advocate
Bangalore
Experience: 15 Year(s)
Advocate High Court
Kolkata
Experience: 3 Year(s)
Legal Counsel
Kolkata
Experience: 15 Year(s)
Advocate High Court
Allahabad
Experience: 38 Year(s)
SENIOR LAWYER
Jabalpur
Experience: 4 Year(s)
Advocate
Faridabad
Experience: 5 Year(s)
ADVOCATE
Howrah
Experience: 29 Year(s)
Senior Lawyer
Vijayawada
Experience: 5 Year(s)
Lawyer
New Delhi
Experience: 14 Year(s)
Advocate and Legal Counsel
Kolkata
Experience: 20 Year(s)
Dr
New Delhi
Experience: 2 Year(s)
Advocate
New Delhi
Experience: 1 Year(s)
Advocate
Kolkata
Experience: 3 Year(s)
Criminal Lawyer
Faridabad
Experience: 11 Year(s)
Attorney
South Delhi
Experience: 18 Year(s)
Advocate / Trial Advocate
Tirunelveli
Experience: 12 Year(s)
Advocate
Mumbai City
Experience: 18 Year(s)
Advocate
Chennai
Experience: 17 Year(s)
Lawyer,Attorney,Solicitor
Kanpur
Experience: 17 Year(s)
Advocate
Patna
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