Bankrupt
Legal definition for Indian law research
Definition
bankrupt
: a debtor (as an individual or organization) whose property is subject to administration under the bankruptcy laws for the benefit of the debtor's creditors [was adjudicated a ] — see also debtor
adj : ruined financially
;esp
: judicially declared a bankrupt [the company is ] compare insolvent
vt : to reduce to bankruptcy [was ed by attorney's fees]
Definitions are for legal research. Always verify meaning in the context of the statute, judgment, or jurisdiction cited.