SC Upholds IBC Provisions on Insolvency of Personal Guarantors; Big Victory for – News18
Supreme Court on Friday upheld provisions of the Insolvency and Bankruptcy Code (IBC) allowing lenders to pursue insolvency proceedings against promoter guarantors of companies facing Corporate Insolvency Resolution Process. Abench of Justices L Nageswara Rao and Ravindra Bhat delivered the judgement.The ruling would allow banks to file personal bankruptcies against guarantors, even when the insolvency…