Liability Of Personal Guarantors Vis-A-Vis Lalit Kumar Jain Vs. Union Of India And Ors.

Introduction On 15th November 2019, a notification was issued by the Ministry of Corporate Affairs which bought into force Part III of the Insolvency and Bankruptcy Code, 2016 (“Code”), as per which insolvency against the personal guarantors to the Corporate Debtor could be initiated. The notification was challenged before various High Courts and on 29th […]