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Consult and get Expert Advice on Bankruptcy and Debt Laws matters from the best Bankruptcy and Debt Lawyers in India. Let us know your requirement we will help you to find the best Lawyer suited for your matter within your budget.
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Consult Top Bankruptcy and Debt Expert Lawyer in India

Namitabh Kothari

Advocate
Exp
Mumbai suburban , Maharashtra

Specialization

  • Civil
  • Criminal
  • Divorce
  • Cheque Bounce
  • Bankruptcy And Debt
18 Years of Legal Practice - Expert in Civil, Criminal, Family and all other types of Court cases Handling matters in Bombay High Court and all other Courts in Mumbai - Thane - Navi Mumbai - Pune View Full Profile
Total Answers Given : 75
Consult

anil reddy s

proproitor
Exp
Bangalore , Karnataka

Specialization

  • Property
  • Adoption
  • Advertising
  • Debt And Lending Agreement
  • Bankruptcy And Debt
Total Answers Given : 14
Consult

ROBERT D ROZARIO

Advocate High Court
Exp
Kolkata , West Bengal

Specialization

  • Civil
  • Financial Markets And Services
  • Intellectual Property, Copyright, Patent, Trademark
  • Landlord And Tenant
  • Bankruptcy And Debt
Corporate & commercial attorney specialized in Intellectual Property law, M&A Analyst, Finance and Financial Valuation Analyst, etc. View Full Profile
Total Answers Given : 768
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Kalyanraopeddireddi PEDDIREDDI

FORMER DISTRICT & SESSIONS JUDGE NOW ADVOCATE
Exp
Hyderabad , Telangana

Specialization

  • Intellectual Property, Copyright, Patent, Trademar
  • Arbitration And Mediation
  • Cyber, Internet, Information Technology
  • Landlord And Tenant
  • Bankruptcy And Debt
An experienced Judge who has completed 33 years in Indian Judiciary, retired as District & Sessions Judge, now ADVOCATE, HIGH COURT OF JUDICATURE AT HYDERABAD, ALSO C.E.O OF KALYAN LEGAL EXCEL ONLINE SERVICES for all Citizens & Non-resident Indian giving legal solutions within 24 of asking Query. View Full Profile
Total Answers Given : 10
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Advocate R K Shukla

Head
Exp
Allahabad , Uttar Pradesh

Specialization

  • Civil
  • Banking
  • Customs, Excise
  • Debt And Lending Agreement
  • Bankruptcy And Debt
We have a team of professional advocates with their specialized fields of law practices . our lawyers are experts in labour law and employment law, infrastructure projects, mergers and acquisitions etc, arbitration, law services and covers all the sections of the law including educational laws, serv View Full Profile
Total Answers Given : 1
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naidu n

Senior Legal Consultant
Exp
Hyderabad , Telangana

Specialization

  • Civil
  • Admiralty and Maritime
  • Banking
  • Consumer Protection
  • Bankruptcy And Debt
We handle following litigations: Admiralty & Maritime, Arbitration, Banking, Business , Company law, Civil , Construction, consumer law, Corporation, Partnership, Criminal, Finance, Foreclosure, Franchise Law, Government, Insurance, Revenue matters, Shipping, Real Estate, Family, Divorce et., View Full Profile

Vaibhav Jain

Advocate
Exp
Panchkula , Haryana

Specialization

  • Real Estate
  • Industrial Laws
  • Insurance
  • Landlord And Tenant
  • Bankruptcy And Debt
I'm practising lawyer at Punjab & Haryana High Court, Chandigarh for the last more than 9 years. View Full Profile

Lokesh Phanindra Bonthu

Lawyer
Exp
Hyderabad , Telangana

Specialization

  • Criminal
  • Divorce
  • Domestic Violence
  • Child Custody
  • Bankruptcy And Debt
Best lawyer View Full Profile

SRINIVASA. N

Advocate
Exp
Bangalore , Karnataka

Specialization

  • Cheque Bounce
  • Civil
  • Arbitration And Mediation
  • Banking
  • Bankruptcy And Debt
Handling both Civil and Criminal Matters at various Courts at Bengaluru View Full Profile

Raghu Rajegowda

Advocate ( Lawyer)
Exp
Bangalore , Karnataka

Specialization

  • Civil
  • Criminal
  • Administrative Law
  • Banking
  • Bankruptcy And Debt
Advocate Raghu Rajegowda has been practicing and handling cases independently with a result-oriented approach, both professionally and ethically and has now acquired many years of professional experience in providing legal consultancy and advisory services. View Full Profile
Total Answers Given : 10
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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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Top Responding Lawyers
on Bankruptcy and Debt Laws

Kishan Dutt Kalaskar Retired Judge
Experience: 33 Year(s)
Retired Judge
Bangalore
Shanti Ranjan Behera
Experience: 22 Year(s)
Advocate
Bhubaneswar
Ambrose Leo
Experience: 9 Year(s)
Adv.Ambrose Leo Associates & Legal Consultants
Bangalore
Rameshwar Dadhe
Experience: 2 Year(s)
As a advocate
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Deepak Bade
Experience: 9 Year(s)
Lawyer and legal associate
Nanded
Prabhakara S K Shetty
Experience: 19 Year(s)
Advocate
Bangalore
ROBERT D ROZARIO
Experience: 15 Year(s)
Advocate High Court
Kolkata
Vedant Lakhotia
Experience: 3 Year(s)
Legal Counsel
Kolkata
VIMAL K MISHRA
Experience: 15 Year(s)
Advocate High Court
Allahabad
Mohd Imran
Experience: 4 Year(s)
Advocate
Faridabad
Vishwabandhu
Experience: 38 Year(s)
SENIOR LAWYER
Jabalpur
NILANJAN CHATTERJEE
Experience: 5 Year(s)
ADVOCATE
Howrah
Rajender Prasad
Experience: 5 Year(s)
Lawyer
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sistla ramakrishna
Experience: 29 Year(s)
Senior Lawyer
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ARPIT BATRA
Experience: 11 Year(s)
Attorney
South Delhi
Johnson Thangiah
Experience: 18 Year(s)
Advocate / Trial Advocate
Tirunelveli
Abhimanyu Shandilya
Experience: 14 Year(s)
Advocate and Legal Counsel
Kolkata
Ashish Dongre
Experience: 12 Year(s)
Advocate
Mumbai City
Nirmal Chopra
Experience: 20 Year(s)
Dr
New Delhi
Manjula Shanmugasundaram
Experience: 18 Year(s)
Advocate
Chennai
GANESH SHARMA
Experience: 3 Year(s)
Criminal Lawyer
Faridabad
Sanjay Kumar Jha
Experience: 17 Year(s)
Advocate
Patna
Namitabh Kothari
Experience: 19 Year(s)
Advocate
Mumbai suburban
Anand
Experience: 10 Year(s)
Independent Lawyer
North East Delhi
Bharat Pawar
Experience: 9 Year(s)
Lawyer
Pune