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Consult Top Bankruptcy and Debt Expert Lawyer in India

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

anshul gupta

Lawyer Partne
Exp
South Delhi , Delhi

Specialization

  • Bankruptcy and Debt
  • Arbitration and Mediation
  • International Laws
  • Admiralty And Maritime
  • Commercial
Mr. Gupta is a Lawyer registered in the Bar council of Delhi, and Bar Council of India in the year of 2014 and qualified to practice in all Indian Courts. He passed out from premier law school of India, Rajiv Gandhi National University of Law, Punjab, and LLM in International Trade Law from Catholic View Full Profile

Indu Chauhan

Advocate
Exp
Rohtak , Haryana

Specialization

  • Bankruptcy and Debt
  • Cheque Bounce
  • Civil
  • Consumer Protection
  • Contracts and Agreements
Myself working as an Advocate in Rohtak District Court since 2009. My qualification is LLB, LLM & M.A. (English). I done my LLB from UILMS, Gurugram. UILMS, Gurugram is highly reputed institute in India. I am panelist advocate of SBI and NALSA View Full Profile

NAGARAJ SUBRAMANIAN

ADVOCATE
Exp
South Delhi , Delhi

Specialization

  • Bankruptcy and Debt
  • Banking
  • Tax-Income Tax
  • Tax-Service Tax
  • Torts
1.USA TAX Consultation 2. Indian Income Tax Consultation 3. Authority of Advan Rulings Litigation and Consultation 4. Income Tax Litigation 5. USA Estate Tax Litigation View Full Profile

Rohit Shaligram

Advocate
Exp
Pune , Maharashtra

Specialization

  • Bankruptcy and Debt
  • Divorce
  • Debt Collection

Vijay Purohit

Advocate
Exp
Mumbai City , Maharashtra

Specialization

  • Bankruptcy and Debt
  • Commercial
  • Arbitration and Mediation

Richi Priydarshni

Associate
Exp
Patna , Bihar

Specialization

  • Bankruptcy and Debt
  • Contracts and Agreements
  • Corporate And Incorporation
  • Cheque Bounce
  • Arbitration And Mediation
I have a BA. LL.B Degree from NLU Ranchi and have Graduated in 2017 and have experience of 1.5 Year working with Hammurabi & Solomon as an assocoate, a Law firm based in Delhi. My interest area lies in the subject of General corporate & Commercial Laws. View Full Profile

Ankur Sinha

Advocate
Exp
Ranchi , Jharkhand

Specialization

  • Bankruptcy and Debt
  • Debt and Lending Agreement
  • Mergers and Acquisition
  • Corporate and Incorporation
  • Criminal

Harpreet Singh Advocate

Advocate
Exp
Yamuna Nagar , Haryana

Specialization

  • Bankruptcy and Debt
  • Cheque Bounce
  • Adoption
Expert in cheque bounce, consumer court, matrimonial and criminal cases View Full Profile

Punit Kachalia

Founder
Exp
Mumbai City , Maharashtra

Specialization

  • Bankruptcy and Debt
  • Cheque Bounce
  • Arbitration and Mediation
  • Contracts and Agreements
  • Family
A young and experienced lawyer currently providing services in the fields of real estate, debt recovery, franchising, contract drafting, wills, probate, trademark registration and labour laws. 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

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Experience: 18 Year(s)
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Experience: 11 Year(s)
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Experience: 17 Year(s)
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Experience: 20 Year(s)
Dr
New Delhi
Experience: 17 Year(s)
Lawyer,Attorney,Solicitor
Kanpur
Experience: 3 Year(s)
Criminal Lawyer
Faridabad
Experience: 19 Year(s)
Advocate
Mumbai suburban
Experience: 17 Year(s)
Advocate
Thiruvananthapuram