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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.
Who holds the record for the most swims across the English Channel?
Which Indian pistol, featuring a 17+1 round capacity, is the first to integrate a Red Dot Sight in India?
For what achievement did Indian Railways enter its name into the Limca Book of Records?
BHIM (Bharat Interface for Money) is an Indian mobile payment app developed by the_______________________, based on the Unified Payments Interface (UPI).
Which organisation has been awarded with the prestigious Golden Peacock Environment Management Award for the year 2021 in the Steel Sector?
Which of the following statements about the MoU between Aeronautical Development Agency and the Indian Air Force is/are correct?
The Chief Minister of Andhra Pradesh belongs to which political party?
What is the primary function of the indigenous Leading Edge Actuators & Airbrake Control Module delivered by DRDO to HAL for the LCA Tejas Mk1A?
Nikhat Zareen is associated with which sport?