what is insolvent? how use in pakistan?
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Insolvent is a condition of a person who is unable to pay his debts as they fall due ,or in usual course of trade and business.
Pakistan is always been main a agricultural country and there is no necessary to insolvency law to country and there was no native law of insolvency now a day the Pakistan's law of insolvency is simply and solely the creation of statue .
2 system of insolvency in Vogue,
one applicable to presidency towns.
and other to mofussil.
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~Good answer dear vaishnavimb
°the above answer is correct!
°Thank my answer please
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