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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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Over half of UK SMEs rely on credit cards and overdrafts


Friends and Family 12%
While the findings underline the continuing financial challenges for SMEs caused by the pandemic, with 43% seeing a fall of more than 25% in their income, for 38% of the SME business owners surveyed, 2020 was a year of income growth.
The hugely varying experiences of SMEs in the pandemic is reflected in the fact that just over half of the SMEs owners and directors surveyed (53%) feel the Government has done enough to support small businesses, however 34% disagreed with this view.
“Almost half of the businesses in need of cash are planning to apply for the Recovery Loan Scheme but at this stage, the number of lenders is limited and we know the qualifying criteria is much tougher than the BBL or CBIL scheme so the success rate for applicants could be poor,” Todd Davison, MD for Purbeck Personal Guarantee Insurance said. ....

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