Insolvency and Bankruptcy of Personal Guarantors to Corporate Debtors: Part I

Bar & Bench November 23 2019
Swaroop George

By Swaroop George

The Central Government has vide notification dated November 15, 2019, appointed December 1, 2019 as the date from which the provisions of the Insolvency and Bankruptcy Code, 2016 concerning personal guarantors to Corporate Debtors will come into effect. Subsequently several regulations have been notified in this regard. Bringing personal guarantors of Corporate Debtors into the Insolvency framework will have enormous repercussions on fiscal discipline and the recovery of dues by creditors. Till date, the banks have found it difficult to go after the . . .

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