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of <h1>Personal Guarantors Face Stricter Debt Resolution Rules Under New Insolvency Regulation 17B Mandating Creditor-Approved Action Plans</h1> The Insolvency and Bankruptcy Board of India issued an amendment regulation for personal guarantors to corporate debtors. The new regulation 17B mandates that if a debtor fails to prepare a repayment plan, the resolution professional must file an application with creditor approval before the Adjudicating Authority, seeking appropriate directions for non-submission of the required plan.
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