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Insolvency is the financial state of a being where the Individual or Company or family has lost the capability to pay off their debts to the creditors. Bankruptcy is termed as a legal declaration of insolvency. Bankruptcy is a legal process that happens when the individual declares he or she can no longer pay back his or her debts to creditors. Insolvency is just the state where the financial inability is reached whereas bankruptcy is the realization and announcement of that the state of being insolvent. Liquidation in finance and economics is the process of bringing a business to an end and distributing its assets to claimants. It is an event that usually occurs when a company is insolvent, meaning it cannot pay its obligations when they are due.
Which country was the first to implement Goods and Services Tax (GST)?
Which of the following US-based investment firm recently bought shares worth Rs 15,446 crore ($1.87 billion) in Adani Group?
In its latest Fiscal Monitor report, the IMF showed that India’s combined debt-to-GDP ratio (Centre plus states) will rise to _____ in FY27.
Recently which country has launched a Crewed Mission on June 5 to build a Space Station?
Which financial entity received approval from the Reserve Bank of India to operate as a Payment Aggregator-Cross Border for both imports and exports?
Where is the National Dope Testing Laboratory located?
What is the purpose of AIIB's first overseas office in Abu Dhabi?
Recently, which district of Uttar Pradesh get its second Sentinel Surveillance Hospital Lab (SSH Lab), a vital facility to diagnose dengue virus?
The first train was started from which place to where in Uttar Pradesh?
Which current is a cold ocean current?
