How can an Individual file for Insolvency: Lawyers Advice
The Insolvency Laws of India were introduced by the Britishers and like the other laws, it owes its origin to English Law. The insolvency Laws were divided into two statutes on the ground of geographical division. The first is the Presidency Towns Insolvency Act, 1909 which applies to the presidency towns of Calcutta, Bombay and Madras and the second is the Provincial Insolvency Act, 1920 which applies to the entire territory of India except for these presidency towns. Both the Acts deals with the insolvency process of Individuals and firms. According to the 26th Report of the Law Commission of India,...
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