sir my brother got 97 notice for 138 he dont have money he field insolvancy petion
if he is faield to payment what is maximum punishment and it is in each case sepretly can it be clubed all cases.
SAINATH DEVALLA (LEGAL CONSULTANT) 19 December 2015
Come out with details for a good suggestion
hemal (ceo) 19 December 2015
sir withc type of detail do you require and where to contect
SAINATH DEVALLA (LEGAL CONSULTANT) 19 December 2015
Instead of providing the details of the money transacted,type of transaction and defence available,U are talking about punishment/clarify
pradeep gupta (lawar) 19 December 2015
pradeep gupta (lawar) 19 December 2015
Anand Bali Adv. (Advocate Solicitor & Consultant) 19 December 2015
Please Contact if you are in Delhi.
T. Kalaiselvan, Advocate (Advocate) 26 December 2015
There will not be any punishment if he has been declared as insolvent by a competent court of law.
Anand Bali Adv. (Advocate Solicitor & Consultant) 28 December 2015
Please see Sec 8 of the Act which states:
8. Exemption of corporation, etc., from insolvency proceedings.-No insolvency petition shall be presented against any corporation oragainst any association or company registered under any enactment forthe time being in force.
Major citation in this regard is of Allahabad HC which nagates the curtain of insolvancy adopted by the petitioner.
Please note bank is a legal Company registered under the Law.
However, you can contact me for the anti dot of this situation by which recently we have got decision in our favour.
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