Insolvency Resolution Process Against Personal Guarantors

Shreyas Jayasimha and Tushar Tyagi

The Ministry of Corporate Affairs (“MCA“) issued a notification dated 15 November 2019 (“Notification“) that give effect to provisions for conducting the insolvency resolution process against personal guarantors under the Insolvency and Bankruptcy Code, 2016 (“IBCode“) w.e.f. 01 December 2019 (“Commencement Date“).[1]


[1] Notification of provisions under the Insolvency and Bankruptcy Code, 2016 relating to Personal Guarantors to corporate debtors.

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Shreyas Jayasimha and Tushar Tyagi The Ministry of Corporate Affairs (“MCA“) issued a notification dated