insolvency

Legal

What is the difference between Insolvency and Bankruptcy?

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PRACTICING COMPANY SECRETARY

Insolvency when person or firm or company is unable pays their debt or bill or creditors or unable to meet their financial obligation is known as insolvency.

Bankruptcy is legal status declared by court for person or firm or company  that said person or firm or any corporation is incapable to paying debt to its creditors or any financial   

 
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