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I am facing significant credit card debt and currently living outside India. I am unable to meet my payment obligations and am considering filing for bankruptcy. Can I start the bankruptcy process from abroad under Indian law? What steps should I take, and are there any legal considerations I should be aware of?
Sir, you can file for bankruptcy under the Insolvency and Bankruptcy Code (IBC) while residing abroad. The procedure can be initiated in India even if you’re living abroad. However, you will need to engage a legal professional to understand the specific steps, such as filing a petition in an Indian court. It’s important to gather all financial documentation and consult a lawyer for the best course of action. For further legal action contact us on our helpline number.