The term fugitive has been made popular by the media.
A bank or financial institution declares someone bankrupt when they are unable to repay the amount borrowed as a loan for a long time.
While we all love to stay updated with the latest happenings around the world, it sometimes happens that we are not familiar with the jargon of a particular beat. Two similar words that we keep hearing in the banking and legal sector are fugitive and insolvent. While at first glance it seems that these two are interchangeable, there is a lot of difference between the two. Now, let us familiarise ourselves with the basic dissimilarity between a fugitive and an insolvent.
For the unversed, a person who is not able to repay their loan amount is d…
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