I had taken loans from many people to expand my business of shoes which till now have amounted to approx 300000 rupees and the business is still the same as it was before i.e, poor. Now I am unable to repay back the loans and I have to even take a loan for Qurbani also on Eidul Azha. Please tell me whether Qurbani is mandatory for me even being in such a debt trap.
بسم الله الرحمن الرحيم
In the question mentioned above you are under the burden of debt and you do not possess such money by which you could offer sadaqah al-Fitr. Then in such situation Qurbani is not wajib on you. It is also not lawful to take interest based loan for Qurbani.
Allah knows Best!
Darul Uloom Deoband