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of <h1>Demand Notice Under Insolvency and Bankruptcy Code 2016 for Personal Guarantors to Settle Corporate Debtor's Unpaid Debt</h1> This form is a demand notice issued under the Insolvency and Bankruptcy Code, 2016, specifically for initiating the insolvency resolution process against personal guarantors of corporate debtors. It is sent by a creditor to a guarantor, detailing the unpaid debt owed by the corporate debtor. The notice includes particulars such as the total outstanding debt, the amount in default, dates of due and default, and the nature of the debt. It requires the guarantor to pay the debt within fourteen days or provide evidence of repayment, failing which insolvency proceedings may be initiated.
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