When a company or a person is unable to repay their outstanding debts, – InterviewSolution

1.	When a company or a person is unable to repay their outstanding debts, it is known as?1). NPA2). Bankruptcy3). Fraud4). Defaulter
Answer» When a COMPANY or a PERSON is unable to repay their outstanding debts, it is known as bankruptcy. Bankruptcy is imposed by a court order and OFTEN initiated by borrower. Insolvency and Bankruptcy Code, 2016 is the law of India that implement and governssingle law for insolvency and bankruptcy.

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