Advocate Sushila
SUPREME COURT DISMISSES PETITIONS CHALLENGING INVOCATION OF INSOLVENCY PROCEEDINGS AGAINST PERSONAL GUARANTORS
Advocate Sushila Ram 22 May 2021

SUPREME COURT DISMISSES PETITIONS CHALLENGING INVOCATION OF INSOLVENCY PROCEEDINGS AGAINST PERSONAL GUARANTORS

A two-Judge Bench of the #SupremeCourt comprising of J. L. Nageswara Rao and J. S. Ravindra Bhat, has in a recent case of Lalit Kumar Jain vs Union of India and Others Transferred Case (Civil) No. 245/2020 passed a #Judgment dated 21-05-2021 and upheld the #validity of the Impugned #Notification dated 15-11-2019 issued by the Ministry of Corporate Affairs (#MCA) under the Insolvency and Bankruptcy Code 2016 (#IBC), which brings into force, the provisions pertaining to #personalguarantors of #corporatedebtors.


To read more, please visit the link below:


https://theindianlawyer.in/supreme-court-dismisses-petitions-challenging-invocation-of-insolvency-proceedings-against-personal-guarantors/


#supremecourt #insolvencyandbankruptcy #notification #ministryofcorporateaffairs #personalguarantor #loans #bank

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