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of <h1>IBBI 2019 Regulations: Insolvency Process for Personal Guarantors to Corporate Debtors, Effective December 1, 2019.</h1> The Insolvency and Bankruptcy Board of India (IBBI) issued regulations in 2019 for the insolvency resolution process for personal guarantors to corporate debtors, effective from December 1, 2019. These regulations outline the eligibility criteria for resolution professionals, the process for submitting and verifying creditor claims, and the conduct of creditor meetings. They also detail the preparation and implementation of repayment plans, including the preservation of records and the responsibilities of resolution professionals. Additionally, the regulations specify the procedure for handling breaches of repayment plans and the filing requirements with the Adjudicating Authority.
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