The ruling is expected to set a precedent for promoters of bankrupt companies who are facing proceedings under the Insolvency and Bankruptcy Code (IBC), being joint personal guarantors or having common assets. The National Company Law Tribunal (NCLT) while approving the repayment plan, also observed that the creditors shall withdraw all the legal proceedings before various fora against the debtor within one month of the fulfilment of repayment obligations.
Supreme Court clears the path for personal guarantor insolvency thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Banks explore the option of invoking personal guarantee of promotion business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
Banks explore option of invoking personal guarantee of promoters, says SC business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.