Bankruptcy & Dissolution
Navigate challenging times with expert legal guidance. VakilSewa’s Bankruptcy & Dissolution services in Darjeeling provide comprehensive support and solutions for businesses facing financial distress.
- Expert advice on bankruptcy laws and procedures.
- Assistance with debt restructuring and insolvency resolution.
- Guidance on business closure and asset liquidation.
- Support throughout the entire dissolution process.
20+
Years Experience
50+
Legal Services
10K+
Cases Delivered
15K+
Consultations
Bankruptcy & Dissolution Service Details
Facing financial difficulties? Our expert legal team provides guidance and support through the complexities of bankruptcy and business dissolution.
Overview
Bankruptcy and dissolution are complex legal processes that require expert guidance to navigate effectively. VakilSewa’s experienced lawyers in Darjeeling provide comprehensive support to businesses facing financial distress, guiding them through the legal procedures, options for debt restructuring, and the process of winding up operations.
Eligibility for Bankruptcy & Dissolution?
For Individuals:
- Individuals with total outstanding debts exceeding ₹1,000
- Proof of inability to repay existing financial obligations
- Permanent residence or business in India
For Businesses:
- Registered companies under Indian Companies Act, 2013
- Demonstrated financial distress
- Inability to meet financial commitments
- Minimum operational history of 2 years
Requirements for Bankruptcy & Dissolution?
Document Checklist for Individuals:
- Proof of identity (Aadhaar/PAN/Passport)
- Complete financial statements
- List of all creditors and outstanding debts
- Income proof for last 2 financial years
- Bank statements
Document Checklist for Businesses:
- Certificate of Incorporation
- Memorandum and Articles of Association
- Audited financial statements
- Detailed creditor list
- Board resolution for dissolution
- Tax clearance certificates
Time & Process for Bankruptcy & Dissolution?
Individual Bankruptcy
- Initial consultation: 7-10 days
- Document preparation: 15-20 days
- Filing and initial hearing: 30-45 days
- Complete resolution: 6-12 months
Company Dissolution
- Initial assessment: 10-15 days
- Documentation preparation: 20-30 days
- Regulatory approvals: 45-60 days
- Final dissolution: 4-8 months
Cost for Bankruptcy & Dissolution?
Individual Bankruptcy
- Basic Package: ₹25,000 – ₹40,000
- Comprehensive Package: ₹50,000 – ₹75,000
Company Dissolution
- Small Enterprise: ₹75,000 – ₹1,50,000
- Medium Enterprise: ₹1,50,000 – ₹3,00,000
- Large Enterprise: Custom pricing
Note: Costs may vary based on complexity and additional legal requirements
Frequently Asked Questions
Protect yourself, your assets, and your family from unforeseen legal issues and threats with Vakil Sewa’s simple, affordable legal solution for all aspects of.
What is bankruptcy?
Bankruptcy is a legal process where individuals or businesses that can’t repay their debts can seek relief from some or all of their financial obligations.
What are the signs that my business might need to consider bankruptcy or dissolution?
Some signs include:
Consistent inability to pay debts.
Loss of key clients or contracts.
Declining revenues and mounting losses.
Legal actions from creditors.
Difficulty obtaining new financing.What are the different types of bankruptcy proceedings in India?
India’s Insolvency and Bankruptcy Code, 2016, outlines various processes, including:
Corporate Insolvency Resolution Process (CIRP): For companies to restructure debt and attempt to revive the business.
Liquidation: The sale of a company’s assets to repay creditors.
Fresh Start Process: For individuals and small businesses with limited debt.What are the alternatives to bankruptcy and dissolution?
Alternatives may include:
Debt restructuring: Negotiating with creditors to modify repayment terms.
Asset sale: Selling non-essential assets to generate funds.
Business turnaround strategies: Implementing measures to improve profitability.