Insolvancy
nitin gatagat
(Querist) 30 September 2013
This query is : Resolved
Dear sir
My problem is that i lost my baggage in travelling containing laptop .sale bill file purchase bill file party statments and delevery challan book @ going to visit c.a. for audit of firm.... for this i lodged fir inrelated police staition u/s 379 ipc theft... but now crwditors startd harashing me for payment as i do not having any data i am not in capacity to pay dbts.... my friend suggested me declare insolvacy ...is it solution.. then what is procedure
Sudhir Kumar, Advocate
(Expert) 01 October 2013
how is your incapacity to pay debts related to loss of laptop?
Are you so heavily indebted that without data lost with the laptop you do not know how much to be paid to whom?
Are your dues really more than assets?
whether all the dues are legal and documented?
V R SHROFF
(Expert) 01 October 2013
"nITIN,
"YOU"
dear sir
my friend is running bussiness ... meanwhile having dispute with a partnership firm arises,,,dispute settled by arbitrater... arbitrater descision come agaginst and he has to do payment of rs.40 lakhs.. but he is not able to pay debts due to losses in buissness,,, what to suggest him ... he is not having paying capacity currently :"
SO NOW YOUR FRIEND LOST LAPTOP????
Guest
(Expert) 01 October 2013
Procedure for what, in finding your lost baggage, recovery of your laptop, getting duplicate copies of your sales and purchase bills, reconstruction of your bill files, for declaring your insolvancy, or saving you from harassment of your creditors?
You may better contact some local lawyer to sort out your problem about insolvancy.
Rajendra K Goyal
(Expert) 01 October 2013
Agree with expert PS Dhingra ji, nothing more to add.
nitin gatagat
(Querist) 01 October 2013
dhingra sir..... how to be declare insolvancy in such siyuation as having no exact records of debtors and creditots but debtors demands more than that much to creditors ..no that much of cash in hand..what to do ..????
Isaac Gabriel
(Expert) 02 October 2013
You need to apply to the court for declaration of insolvency.
Sudhir Kumar, Advocate
(Expert) 06 October 2013
how is your incapacity to pay debts related to loss of laptop?
Are you so heavily indebted that without data lost with the laptop you do not know how much to be paid to whom?
Are your dues really more than assets?
whether all the dues are legal and documented?
Sudhir Kumar, Advocate
(Expert) 06 October 2013
connect
http://www.lawyersclubindia.com/experts/inability-to-payment-of-debts-408906.asp
Sudhir Kumar, Advocate
(Expert) 06 October 2013
repeated query is no substitute of hiding facts. Come clear with facts as suggested by Mr Shorff on other thread.
