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Personal guarantors per se not discharged

The Central Government issued a notification dated 15.11.2019 under Sec.1(3) of the Insolvency and Bankruptcy Code ....

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'Promoters, think before you sign that guarantee' - The Hindu BusinessLine

‘Promoters, think before you sign that guarantee’
May 27, 2021
Bijoy Pulipra, Insolvency Professional and Company Secretary×
Assess first, future business and prospects
Entrepreneurs will be well advised to think twice before they sign the documentation for personal guarantee for their company and sign it only if they are fully convinced about the prospects and future of the business.
This is the most important takeaway from the Supreme Court’s clearing the ambiguity over partial notification of provisions in Part III of the Insolvency and Bankruptcy Code enabling creditors to invoke the personal guarantee of promoters of a corporate debtor, says Bijoy Pulipra, Insolvency Professional and Company Secretary. ....

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SC Upholds Centre's Notification Bringing Into Force Insolvency Of Personal Guarantors To Corporate Debtors

SC Upholds Centre s Notification Bringing Into Force Insolvency Of Personal Guarantors To Corporate Debtors
Various petitions were filed before different High Courts as well as before the Supreme Cour
27 May 2021, Last Updated at 6:53 pm
Special Arrangement
2021-05-27T18:49:28+05:30
SC Upholds Centre s Notification Bringing Into Force Insolvency Of Personal Guarantors To Corporate Debtors
outlookindia.com
2021-05-27T18:53:13+05:30
Author: Sarojanand Jha, Founding Partner, Vedanta Legal
In a recent landmark decision, the Supreme Court has upheld the challenge to a Notification dated 15
th November 2019 (“
Notification”) issued by the Ministry of Corporate Affairs, which brought into force the provisions of the insolvency of Personal Guarantor to the Corporate Debtor. ....

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