BANKRUPTCY IN PHARMACEUTICALS
ABOUT AUTHORS
Rajesh Vagh
PharmaTutor Edu Labs
Surat, Gujarat
rajesh@pharmatutor.org
Bankruptcy may be a new term or less familiar with most of you but it is of higher importance. Bankruptcy is a legal status of a person or other entity that cannot repay debts to creditors. We may consider it as a white-collar fraud. First let me clear that bankrupt can be defined as different act in various jurisdiction but generally bankruptcy statutes involve concealment of assets, concealment or destruction of documents, conflicts of interest, fraudulent claims, false statements or declarations, and fee fixing or redistribution arrangements etc. Bankruptcy fraud is a federal crime in the USA and India.
