In this State of the Economy podcast, businessLines KR Srivats, Senior Deputy Editor, discusses the recent landmark Supreme Court judgement on personal guarantors insolvency in India with Dhananjay Kumar, Partner, Cyril Amarchand & Mangaldas, a leading law firm.
By upholding the constitutional validity of Insolvency and Bankruptcy Code (IBC) provisions related to personal guarantors insolvency (Sections 95 to 100), the three-member SC Bench led by Chief Justice of India D YChandrachud has, in its verdict in the cases of Dilip B. Jiwrajka vs. Union of India and others, strengthened the hands of banks and other creditors efforts in using this route for loan recoveries.
In one go, the apex court dismissed 384 petitions that raised several l…
Read the full article at: https://www.thehindubusinessline.com/multimedia/audio/scs-ruling-on-personal-guarantors-a-game-changer-for-banks/article67582563.ece