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<h1>India Updates Bankruptcy Regulations for Personal Guarantors to Corporate Debtors; Key Changes in Regulation 3 and 5.</h1> The Insolvency and Bankruptcy Board of India has issued amendments to the Bankruptcy Process for Personal Guarantors to Corporate Debtors Regulations, 2019, effective upon publication in the Official Gazette. The amendments involve changes to regulation 3, sub-regulation (1), where clause (a) is modified to include 'and' after 'guarantor,' and clause (b) is revised to replace '; and' with '.' Additionally, clause (c) is removed from both regulation 3 and regulation 5, sub-regulation (1). These changes are part of the 2024 amendment regulations under the Insolvency and Bankruptcy Code, 2016.