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Resource Centre / Categories :- Legal Research  » Bankruptcy/Insolvency
Insolvency and Bankruptcy
Team SoOLEGAL | 01/01/1970

Insolvency is a financial state of being off a person , which indicates that one cannot repay his/her debts on time . On the other hand Bankruptcy is a legal process that serves the purpose of resolving the issue of insolvency . The Insolvency & Bankruptcy Code 2016 was passed by the Lok Sabha on May 5 2016.

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