Surge in personal guarantor cases under IBC in FY23

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Personal guarantors of loans taken by bankrupt companies are in the dock as lenders are increasingly invoking such guarantees under the Insolvency and Bankruptcy Code (IBC). In the first three quarters of the ongoing fiscal 2023, National Company Law Tribunals (NCLTs) have admitted 117 such cases against personal guarantors, compared with 28 in the entire … Read more

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