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PERSONAL GUARANTOR
NCLAT upholds insolvency proceedings against Nyka Steel guarantor over UCO Bank duesThe NCLAT upheld an NCLT order initiating insolvency proceedings against a personal guarantor. This decision involved Asif Ahmed Siddique, ...- Student loans, GoI reading this rightIn a groundbreaking move, the government is set to double education loan disbursals across the country, enabling greater access to higher e...
- RBI changes loan recovery rules:: No harassment, recorded calls, strict recovery agent code & moreThe Reserve Bank of India has announced new guidelines for loan recovery starting in January 2027. These regulations require that banks pro...
- RBI bars banks from disabling mobile devices of defaulting borrowersBanks cannot disable borrower mobile phones and laptops for loan recovery. This new rule applies unless the devices themselves were finance...
- SC says insolvency shield cannot protect real estate promoters from homebuyers' casesThe Supreme Court ruled promoters and directors cannot use insolvency moratorium against homebuyers. This decision provides significant rel...
- Bira 91 beer founder Ankur Jain quits board, gives up control in settlementBira 91 founder Ankur Jain has stepped down from the company's board. He is giving up all executive powers and ownership to settle disputes...
- Deadline for filing forms relating to personal guarantors to insolvent firms extended up to Sept 30Insolvency professionals have received a three-month extension to file forms electronically. This extension applies to monitoring resolutio...
- IBBI seeks tighter regulations around personal guarantors, valuation of insolvent firmsPersonal guarantors of struggling companies may lose their interim moratorium protection, as the insolvency regulator proposes changes to p...
- NCLT admits SBI plea for personal insolvency proceedings against Anil AmbaniMumbai NCLT has admitted SBI's plea to start personal insolvency proceedings against Anil Ambani. This follows a Rs 1,200 crore claim by th...
- Personal guarantors to bankrupt firms will need to declare crypto holding, art collections in IBC proceedingsNew draft rules will require personal guarantors of stressed companies to declare all personal assets. This includes crypto, jewellery, and...
- NCLT dismisses Bank of Maharashtra’s plea against personal guarantors of Gopal Krishna Oil Tech IndustriesThe National Company Law Tribunal in Mumbai has dismissed the Bank of Maharashtra's application to initiate insolvency proceedings against ...
- IBC helps personal guarantors resolve financial stress: MCAThe Insolvency and Bankruptcy Code (IBC) provides opportunities for defaulting firms and personal guarantors to restructure debts. The Mini...
- IBBI seeks to tighten the noose around guarantors of bankrupt firmsThe Insolvency and Bankruptcy Board of India (IBBI) has proposed changes in the resolution plan process to hold guarantors accountable, fol...
- Guarantors' plan for Pradip Overseas gets NCLT nodThe ruling is expected to set a precedent for promoters of bankrupt companies who are facing proceedings under the Insolvency and Bankruptc...
- IBBI amends norms related to insolvency resolution process for personal guarantorsIBBI has made amendments to the insolvency resolution process for personal guarantors and voluntary liquidation process. The changes remove...
- IBBI allows same resolution professional to handle insolvency of a firm and its personal guarantorThe insolvency watchdog has amended regulations to allow the same insolvency professional to steer the resolution of a stressed firm as wel...
- SC denial of IBC relief to personal guarantors opens new recovery window for lendersThe latest data from the Insolvency and Bankruptcy Board of India (IBBI) show that a total of 2,289 cases related to personal guarantees in...
- Surge in personal guarantor cases under IBC in FY23In the first three quarters of the ongoing fiscal 2023, National Company Law Tribunals (NCLTs) have admitted 117 such cases against persona...
- Personal guarantor insolvency under IBC from December 1According to the Supreme Court’s recent ruling in the Essar Steel case, overturning an order of the National Company Law Appellate Tribunal...
- No moratorium for personal guarantors: Supreme CourtThe law mandates a moratorium of 180 days against a corporate debtor once insolvency proceedings start.
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