Legally Bharat

SC rules on personal bank guarantee adjustment under IBBI regulations, ET LegalWorld

The Supreme Court has held that the adjustment of the Personal Bank Guarantee was impermissible under the terms of the Resolution Plan read with Regulation 36B(4A) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The consortium contended that the National Company Law Appellate Tribunal’s order rightly recognized that Regulation 36B(4A) of the […]