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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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