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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Bankrupt individuals must submit Form E under Rule 11 for personal guarantors to corporate debtors per Section 129(2).</h1> Rule 11 of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Bankruptcy Process for Personal Guarantors to Corporate Debtors) Rules, 2019, mandates that a bankrupt individual must submit a statement of financial position in Form E. This requirement is pursuant to sub-section (2) of section 129, which pertains to the bankruptcy process for personal guarantors of corporate debtors. The rule is part of the statutory framework governing insolvency and bankruptcy procedures for individuals who have provided personal guarantees for corporate debts.
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