NEW DELHI: The government has begun work on laying down a process for individuals to be declared bankrupt, which will help them deal with a financial crisis rather than be bogged down by it.The rules being framed will help a defaulter repay the money in a structured way, rather than being forced to cough it up to banks in one go. People should be allowed to restructure their lives, " said Sumant Batra, managing partner and head of the insolvency, secured transactions & corporate law practice at law firm Kesar Dass B & Associates. I am married but no issues so i have no commitments feesl something lacking in my life.
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The ministry of corporate affairs and the Insolvency and Bankruptcy Board of India have now begun discussions on putting in place rules to help individuals and partnership firms.
Aworking group is looking at several aspects, including making counselling mandatory as is the case in Singapore.
Similarly, there is a need to make the legal system more easily accessible.
"We need to ensure that there is adequate infrastructure to help people who are already stressed.
Iran borders Armenia, Azerbaijan (including its Nakhichevan exclave), and Turkmenistan to the north, Pakistan and Afghanistan to the east, and Turkey and Iraq to the west.
In addition, it borders the Persian Gulf, across which lie Kuwait, Saudi Arabia, Bahrain, Qatar, and the United Arab Emirates. Throughout its history, Iran has been of great geostrategic importance due to its central location in Eurasia.
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